<SEC-DOCUMENT>0001868420-21-000070.txt : 20210825
<SEC-HEADER>0001868420-21-000070.hdr.sgml : 20210825
<ACCEPTANCE-DATETIME>20210825131018
ACCESSION NUMBER:		0001868420-21-000070
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20210630
FILED AS OF DATE:		20210825
DATE AS OF CHANGE:		20210825
EFFECTIVENESS DATE:		20210825

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEMPLETON GLOBAL INCOME FUND
		CENTRAL INDEX KEY:			0000828803
		IRS NUMBER:				222864496
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05459
		FILM NUMBER:		211205596

	BUSINESS ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923
		BUSINESS PHONE:		9545277500

	MAIL ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEMPLETON GLOBAL INCOME FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>primary-document.htm
<TEXT>
<html><head></head><body><div style="position: relative;page: WordSection1">

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, DC 20549</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">FORM N-CSRS</div></b></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Investment Company Act file number <u>811-05459</u></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;display: inline;">Templeton Global Income Fund</div></u></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(Exact name of registrant as specified in charter)</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;display: inline;">300 S.E. 2<sup>nd</sup> Street, Fort Lauderdale, FL
33301-1923</div></u><div style="font-size: 10.0pt;display: inline;"><br>
(Address of principal executive offices)&#160;&#160; (Zip code)</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;display: inline;">Craig S. Tyle, One Franklin Parkway, San Mateo, CA&#160;
94403-1906</div></u></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(Name and address of agent for service)</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Registrant's telephone number, including area code: <u>(954)
527-7500</u>_ </div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date of fiscal year end: <u>12/31</u></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date of reporting period: <u>6/30/21
&#160;</u>&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 1. Reports to
Stockholders.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-indent: -22.5pt;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">a.)<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
following is a copy of the report transmitted to shareholders pursuant to Rule30e-1
under the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;) (17 CFR
270.30e-1.)<br>
<br>
<br>
</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-indent: -22.5pt;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">b.)<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Include a
copy of each notice transmitted to stockholders in reliance on Rule 30e-3 under
the Act (17 CFR 270.30e-3) that contains disclosures specified by paragraph
(c)(3) of that rule. </div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Not Applicable</div></b><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAfIAAAA8CAYAAACdBDigAAAACXBIWXMAABcRAAAXEQHKJvM/AAABGElEQVR4Xu3VMRGAABADwZeGaCTgAykPDmi5mS02Vfqb3R0AoOnzAAD815zXfQAATfPOAgBNQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhswsAVH0eAID/egDQgUxKMkJuFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:29px;left:72px;position:absolute;top:98px;width:239px">
			<div style="width:4781px;height:540px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="color:#004a97;font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;text-transform:uppercase;position:absolute;top:170.44px;left:288px;letter-spacing:-0.26px;white-space:nowrap">Semiannual </div><div style="color:#004a97;font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;text-transform:uppercase;position:absolute;top:170.44px;left:1423.74px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:248px;left:100px;position:absolute;top:140px;width:334px">
			<div style="width:6698px;height:4676px;position:absolute;top:13.57px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:545px;font-weight:bold;text-transform:uppercase;position:absolute;top:-88.3px;left:0px;letter-spacing:-0.93px;white-space:nowrap">Templeton </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:545px;font-weight:bold;text-transform:uppercase;position:absolute;top:-88.3px;left:3478.54px;letter-spacing:-1.34px;white-space:nowrap">Global </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:545px;font-weight:bold;text-transform:uppercase;position:absolute;top:611.7px;left:0px;white-space:nowrap">Income </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:545px;font-weight:bold;text-transform:uppercase;position:absolute;top:611.7px;left:2315.16px;white-space:nowrap">Fund</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:0px;white-space:nowrap">June </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:538.18px;white-space:nowrap">30, </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:905.14px;white-space:nowrap">2021</div></div>
		</div>
		<div style="background-color:transparent;height:9px;left:46px;position:absolute;top:454px;width:26px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAGwAAAAkCAYAAABsbd/MAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAeElEQVRoQ+3KMQ0AMAzAsOIbwcHdIORNpRz+PHPuyyIY4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGKLyAWUge6W4W6oXAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-color:transparent;height:26px;left:64px;position:absolute;top:454px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAABsCAYAAAACCxCZAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA50lEQVRoQ83KMREAIAwAserDIHKLhN9yDNkyc+5+JYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcuAPcl3e6V1/h7kAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:245.52px;white-space:nowrap">Not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:564.27px;white-space:nowrap">FDIC </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:992.39px;white-space:nowrap">Insured </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:1812.8px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:2177.45px;white-space:nowrap">Lose </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:2605.87px;letter-spacing:-1.5px;white-space:nowrap">Value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:3262.51px;white-space:nowrap">No </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:3526.67px;white-space:nowrap">Bank </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:3973.25px;white-space:nowrap">Guarantee</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5369.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report </div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-variant:small-caps;position:absolute;top:121.31px;left:644.15px;white-space:nowrap">1</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:360px;position:absolute;top:-42.71px;left:0px;white-space:nowrap">Contents</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:595.69px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:595.69px;left:1060.31px;white-space:nowrap">Report</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:0px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:880.49px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:1450.81px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:2091.09px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:4759.89px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1107.69px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1107.69px;left:1080.44px;white-space:nowrap">Summary</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1107.69px;left:4759.89px;white-space:nowrap">7</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:0px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:770.36px;white-space:nowrap">Highlights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:1610.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:1961.1px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:2831.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:3031.7px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:4759.89px;white-space:nowrap">9</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1619.69px;left:0px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1619.69px;left:770.36px;white-space:nowrap">Statements</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1619.69px;left:4659.79px;white-space:nowrap">22</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:0px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:520.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:720.35px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:1490.71px;white-space:nowrap">Statements</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:4659.79px;white-space:nowrap">25</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:0px;letter-spacing:-4.99px;white-space:nowrap">Tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:330.12px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:4659.79px;white-space:nowrap">37</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2387.69px;left:0px;white-space:nowrap">Important </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2387.69px;left:810.35px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2387.69px;left:1760.8px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2387.69px;left:1960.93px;white-space:nowrap">Shareholders</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2387.69px;left:4659.79px;white-space:nowrap">38</div><div style="font-family:Arial, 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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:325px;font-weight:bold;text-transform:uppercase;position:absolute;top:-53.52px;left:0px;white-space:nowrap">SEMI</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:325px;font-weight:bold;text-transform:uppercase;position:absolute;top:-53.52px;left:801.95px;letter-spacing:-0.94px;white-space:nowrap">ANNUAL</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:325px;font-weight:bold;text-transform:uppercase;position:absolute;top:-53.52px;left:2271.48px;white-space:nowrap">REPORT</div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:0px;letter-spacing:-4.21px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:1858.81px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:3062.82px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:4414.53px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:0px;white-space:nowrap">Dear </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:440.16px;white-space:nowrap">Shareholder:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:0px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:390.06px;white-space:nowrap">semi</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:770.1px;white-space:nowrap">annual</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:1360.63px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:1880.86px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:2137.68px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:3018.16px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:3588.49px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:4228.77px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:0px;white-space:nowrap">covers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:580.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:880.4px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:1430.77px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:1981.32px;white-space:nowrap">June</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2421.65px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2521.76px;white-space:nowrap">0</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2621.87px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2721.88px;white-space:nowrap">202</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:3022.21px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:3122.31px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:0px;letter-spacing:-4.77px;white-space:nowrap">Your </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:597.57px;letter-spacing:-0.67px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:1445.49px;white-space:nowrap">Goal </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:2066.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:2572.96px;white-space:nowrap">Main </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:3208.74px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:820.46px;white-space:nowrap">seeks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:1340.68px;white-space:nowrap">high, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:1781.02px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:2391.24px;white-space:nowrap">income, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3071.51px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3441.62px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3591.74px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:4472.23px;white-space:nowrap">goal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:200.13px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:770.45px;white-space:nowrap">appreciation. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:1851.15px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:2391.42px;white-space:nowrap">normal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:2991.62px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:3591.74px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:300.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:760.52px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:1370.74px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:1570.87px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2001.09px;white-space:nowrap">80% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2411.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2611.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2841.5px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:3141.74px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:3711.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:3902.08px;white-space:nowrap">income-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:0px;white-space:nowrap">producing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:840.59px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:1700.86px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:2461.38px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:2861.72px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:3671.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:3872.11px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:4272.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:0px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:600.38px;white-space:nowrap">issuers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:1270.55px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:2031.06px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:2831.48px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:3571.61px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:3891.62px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:500.36px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:1087.38px;white-space:nowrap">80% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:1497.66px;letter-spacing:-1.67px;white-space:nowrap">policy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:2044.51px;white-space:nowrap">income-producing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:3525.29px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:0px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:620.42px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:1440.79px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:2421.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:2631.18px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:3091.46px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:4101.86px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:4452.1px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:820.37px;white-space:nowrap">characteristics </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:2020.69px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:2590.66px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:2790.79px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:3221.02px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:5517.87px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:5517.87px;left:1560.63px;white-space:nowrap">Overview</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:319.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:619.7px;white-space:nowrap">six </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:889.42px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:1529.43px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:2039.54px;letter-spacing:-1.24px;white-space:nowrap">review, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:2649.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:2949.45px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:3409.46px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:3999.64px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:0px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:390.23px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:1000.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:1200.59px;white-space:nowrap">+4.76% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:1866.09px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:2406.53px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:2656.76px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:3256.88px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:3697.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:4047.36px;white-space:nowrap">-2.01% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:790.66px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:1090.9px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:1571.13px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:2101.46px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:2421.47px;white-space:nowrap">comparison, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:3451.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:3752.14px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:0px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:1000.55px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:1450.99px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:2101.11px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:2341.23px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:3191.66px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:3431.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:3732.01px;letter-spacing:-4.64px;white-space:nowrap">J.P. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:4068.9px;white-space:nowrap">Morgan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:0px;white-space:nowrap">(JPM) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:529.89px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:1100.21px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:2140.66px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:2611.05px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:3101.4px;white-space:nowrap">(GGBI), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:3771.39px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:150.12px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:1060.49px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:1450.72px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:1970.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:2171.07px;white-space:nowrap">-4.64% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:2791.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:2981.51px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:3381.59px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:3871.85px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:560.3px;white-space:nowrap">same </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:1050.47px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:7396.82px;left:1600.84px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:1705.96px;letter-spacing:-4.13px;white-space:nowrap">You </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:2059.72px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:2399.94px;text-rendering:optimizeLegibility;white-space:nowrap">find </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:2740.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:3040.4px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:3627.42px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:0px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:1060.49px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:1460.83px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:1650.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:1951.17px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:3031.61px;white-space:nowrap">Summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:3851.72px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:4101.94px;white-space:nowrap">page </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:4552.38px;white-space:nowrap">7</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7643.21px;left:4652.49px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:1080.44px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:1480.78px;white-space:nowrap">represent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:2291.22px;white-space:nowrap">past </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:2681.46px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:3791.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:4302.16px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:0px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:300.23px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:1160.95px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:1671.24px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:2301.42px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:3231.83px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:3752.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:4102.38px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:480.32px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:780.29px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:1560.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:1911.09px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:2251.32px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:2641.38px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:3081.71px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:3231.83px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:3622.15px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:3832.21px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:4202.31px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:0px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:340.22px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:660.32px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:1060.49px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:1700.77px;white-space:nowrap">Current </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:2350.99px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:3411.47px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:3801.53px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;left:4251.71px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9073.21px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">figures </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9073.21px;left:590.27px;white-space:nowrap">shown.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:9649.47px;left:0px;white-space:nowrap">Economic </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:9649.47px;left:1213.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:9649.47px;left:1719.83px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:9649.47px;left:2586.67px;white-space:nowrap">Overview</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:0px;white-space:nowrap">Sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:860.54px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:1310.98px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:1821.18px;white-space:nowrap">rose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:2221.35px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:2801.51px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:3291.68px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:3491.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:3792.04px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:4272.19px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:299.95px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:639.63px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:1099.63px;letter-spacing:0px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:1739.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:1939.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:2239.44px;letter-spacing:0px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:3069.37px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:3619.46px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:4169.72px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:4609.78px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:0px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:500.45px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:740.57px;white-space:nowrap">vaccine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:1400.89px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:2461.38px;white-space:nowrap">ongoing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:3152.02px;white-space:nowrap">stimulus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:3862.18px;white-space:nowrap">measures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:350.33px;white-space:nowrap">optimism </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:1120.43px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:1380.5px;white-space:nowrap">improving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:2210.8px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:3031.17px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:3891.71px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:4702.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:0px;white-space:nowrap">fuel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:340.22px;text-rendering:optimizeLegibility;white-space:nowrap">reflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:1030.61px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:2091.27px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:2671.44px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:3381.86px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:4121.98px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:4312.18px;white-space:nowrap">April, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:0px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:830.48px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:1280.92px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:1791.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:1981.23px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:2471.4px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:2661.59px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:3061.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:3412.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:3702.39px;white-space:nowrap">Americas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:0px;white-space:nowrap">pulled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:530.42px;white-space:nowrap">back </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:960.64px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:1370.65px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:1770.82px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:2320.93px;white-space:nowrap">peaks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:2901.27px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:3361.46px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:3851.63px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:4351.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:0px;white-space:nowrap">Europe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:630.44px;white-space:nowrap">saw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:1000.55px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:1510.75px;white-space:nowrap">continue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:2241.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:2441.43px;white-space:nowrap">rise. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:2831.48px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:3031.61px;white-space:nowrap">June, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:3521.95px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:4352.43px;white-space:nowrap">bond</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:5220px;white-space:nowrap">*Includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:5796.25px;white-space:nowrap">foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:6233.91px;white-space:nowrap">government </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:6963.28px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:7218.67px;white-space:nowrap">agency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:7678.28px;white-space:nowrap">securities, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:8305.47px;white-space:nowrap">money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:8735.78px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:9173.28px;white-space:nowrap">funds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3195.24px;left:9530.78px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3375.24px;left:5220px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3375.24px;left:5555.55px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3375.24px;left:5774.45px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3375.24px;left:6190.23px;white-space:nowrap">(including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3375.24px;left:6788.28px;white-space:nowrap">derivatives).</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3889.53px;left:5220px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3889.53px;left:5730.21px;white-space:nowrap">declined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3889.53px;left:6450.73px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3889.53px;left:7030.9px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3889.53px;left:7911.65px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3889.53px;left:8601.77px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3889.53px;left:8902px;white-space:nowrap">shifted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3889.53px;left:9482.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:5220px;white-space:nowrap">varying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:5850.26px;white-space:nowrap">directions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:6670.63px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:6860.74px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:7661.16px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:8401.29px;white-space:nowrap">On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:8691.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:8991.65px;white-space:nowrap">whole, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4139.53px;left:9561.97px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:5220px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:6000.38px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:6610.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:6911.1px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:7391.25px;white-space:nowrap">saw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:7761.36px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:8271.56px;white-space:nowrap">rise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:8611.61px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4389.53px;left:9592.03px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:5520.23px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:6350.45px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:6950.83px;white-space:nowrap">despite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:7581.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:7881.5px;white-space:nowrap">general </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:8531.98px;white-space:nowrap">trend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:8992.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4639.53px;left:9192.39px;white-space:nowrap">declining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4889.53px;left:5220px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4889.53px;left:5730.21px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4889.53px;left:6130.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4889.53px;left:6430.61px;text-rendering:optimizeLegibility;white-space:nowrap">final </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4889.53px;left:6810.82px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4889.53px;left:7451.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4889.53px;left:7651.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4889.53px;left:7951.46px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:5580.18px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:6000.38px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:6250.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:6550.84px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:7211.16px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:7607.99px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:8361.47px;white-space:nowrap">(UST) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:8891.37px;white-space:nowrap">note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5319.53px;left:9291.71px;text-rendering:optimizeLegibility;white-space:nowrap">finished </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:5520.23px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:6350.45px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:6900.82px;white-space:nowrap">55 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:7151.04px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:7621.26px;white-space:nowrap">points </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:8151.59px;white-space:nowrap">(bps) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:8611.7px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:9162.07px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5569.53px;left:9362.2px;white-space:nowrap">1.47%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:5220px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:5370.03px;white-space:nowrap">reached </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:6070.52px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:6320.74px;white-space:nowrap">intra-period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:7281.21px;white-space:nowrap">peak </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:7721.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:7921.67px;white-space:nowrap">1.74% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:8482.06px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:8732.29px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:9282.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5819.53px;left:9582.63px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:5220px;white-space:nowrap">highest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:5850.44px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:6270.64px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:6740.86px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:7431.24px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:7931.69px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:8131.82px;white-space:nowrap">Europe, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:8812.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:9112.5px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:9532.71px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6069.53px;left:9782.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:5220px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:5880.32px;white-space:nowrap">German </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:6580.55px;white-space:nowrap">Bund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:7050.94px;text-rendering:optimizeLegibility;white-space:nowrap">finished </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:7721.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:8021.6px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:8851.82px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:9402.19px;white-space:nowrap">36 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6319.53px;left:9652.41px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:5220px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:5770.37px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:5970.5px;white-space:nowrap">-0.21%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:6640.84px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:6831.04px;white-space:nowrap">Asia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:7281.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:7581.45px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:8001.65px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:8251.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:8552.11px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6569.53px;left:9212.43px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:5220px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:6220.55px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:6670.99px;white-space:nowrap">rose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:7071.15px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:7531.44px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:7871.66px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:8071.79px;white-space:nowrap">0.05%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:8682.19px;white-space:nowrap">Sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6819.53px;left:9542.72px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:5220px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:5730.21px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:6110.42px;white-space:nowrap">notably </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:6740.86px;white-space:nowrap">rose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:7141.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:7331.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:7631.37px;white-space:nowrap">U.K., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:8081.46px;white-space:nowrap">Canada, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7069.53px;left:8802.07px;white-space:nowrap">Australia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:5220px;white-space:nowrap">Sweden </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:5920.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:6270.82px;letter-spacing:-1.67px;white-space:nowrap">Norway. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:6967.62px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:7167.74px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:7968.16px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:8708.29px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:9218.5px;white-space:nowrap">rose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7319.53px;left:9618.66px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7569.53px;left:5220px;white-space:nowrap">India, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7569.53px;left:5710.34px;white-space:nowrap">Indonesia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7569.53px;left:6587.75px;white-space:nowrap">Thailand, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7569.53px;left:7378.24px;white-space:nowrap">Brazil, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7569.53px;left:7928.35px;white-space:nowrap">Mexico, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7569.53px;left:8598.52px;white-space:nowrap">Chile, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7569.53px;left:9108.72px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7819.53px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7819.53px;left:5570.33px;white-space:nowrap">Peru.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:5220px;white-space:nowrap">Rising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:5770.2px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:6280.4px;white-space:nowrap">strained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:6970.78px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:7831.32px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:8411.48px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:8901.65px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:9401.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8249.53px;left:9602.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:5220px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:5750.42px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:6180.64px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:6810.91px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:7501.03px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:8051.4px;letter-spacing:-0.46px;white-space:nowrap">2021&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:8628.57px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:8968.54px;letter-spacing:-1.1px;white-space:nowrap">quarter. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8499.53px;left:9628.95px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8749.53px;left:5220px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8749.53px;left:5710.25px;white-space:nowrap">(USD)-denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8749.53px;left:7360.93px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8749.53px;left:8191.41px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8749.53px;left:8681.57px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8749.53px;left:9311.75px;white-space:nowrap">broadly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:5220px;white-space:nowrap">saw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:5590.11px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:6320.65px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:6930.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:7120.99px;letter-spacing:-1.48px;white-space:nowrap">January, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:7848.02px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:8618.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:8968.62px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8999.53px;left:9568.74px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9249.53px;left:5220px;white-space:nowrap">sharply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9249.53px;left:5850.26px;white-space:nowrap">reversing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9249.53px;left:6640.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9249.53px;left:6840.7px;white-space:nowrap">generate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9249.53px;left:7601.31px;letter-spacing:-0.3px;white-space:nowrap">offsetting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9249.53px;left:8378.53px;white-space:nowrap">positive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9249.53px;left:9038.85px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9249.53px;left:9649.07px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:5220px;white-space:nowrap">April, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:5680.11px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:6070.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:6420.5px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:6860.83px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:7100.95px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:7611.15px;white-space:nowrap">declined. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:8381.69px;white-space:nowrap">Conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9499.53px;left:9282.22px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9749.53px;left:5220px;white-space:nowrap">somewhat </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9749.53px;left:6090.38px;letter-spacing:-0.33px;white-space:nowrap">different </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9749.53px;left:6787.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9749.53px;left:6977.64px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9749.53px;left:7788.08px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9749.53px;left:8278.24px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9749.53px;left:8908.42px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9749.53px;left:9148.54px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9999.53px;left:5220px;white-space:nowrap">investment-grade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9999.53px;left:6660.7px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9999.53px;left:7150.87px;white-space:nowrap">tiers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9999.53px;left:7540.93px;white-space:nowrap">initially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9999.53px;left:8131.11px;white-space:nowrap">saw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9999.53px;left:8501.22px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9999.53px;left:9231.77px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9999.53px;left:9841.99px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10249.53px;left:5220px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10249.53px;left:5580.18px;white-space:nowrap">pressures, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10249.53px;left:6470.51px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10249.53px;left:6930.7px;white-space:nowrap">high-yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10249.53px;left:7751.16px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10249.53px;left:8241.33px;white-space:nowrap">tiers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10249.53px;left:8631.39px;white-space:nowrap">performed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10249.53px;left:9501.77px;letter-spacing:-1.24px;white-space:nowrap">better, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10499.53px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">benefiting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10499.53px;left:6050.65px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10499.53px;left:6460.66px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10499.53px;left:7081px;white-space:nowrap">spread </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10499.53px;left:7681.38px;white-space:nowrap">cushioning. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10499.53px;left:8642.02px;white-space:nowrap">Investment-grade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10749.53px;left:5220px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10749.53px;left:6030.44px;white-space:nowrap">credits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10749.53px;left:6610.61px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10749.53px;left:7331.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10749.53px;left:7531.17px;white-space:nowrap">positive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10749.53px;left:8191.49px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10749.53px;left:9251.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10749.53px;left:9432.16px;white-space:nowrap">April, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:5220px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:5610.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:5960.39px;white-space:nowrap">June, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:6450.73px;white-space:nowrap">modestly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:7221.01px;white-space:nowrap">outpacing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:8051.66px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:8621.63px;white-space:nowrap">positive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:9281.95px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10999.53px;left:9892.18px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11249.53px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11249.53px;left:5520.23px;white-space:nowrap">high-yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11249.53px;left:6340.69px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11249.53px;left:6830.86px;white-space:nowrap">tiers.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11679.53px;left:5220px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11679.53px;left:5420.13px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11679.53px;left:6160.34px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11679.53px;left:6900.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11679.53px;left:7200.7px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11679.53px;left:7630.75px;white-space:nowrap">broadly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11679.53px;left:8271.12px;white-space:nowrap">strengthened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11679.53px;left:9371.95px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:5220px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:5370.12px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:6030.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:6230.57px;white-space:nowrap">major </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:6730.66px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:7611.42px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:8211.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:8561.87px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11929.53px;left:9362.29px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:5220px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:6100.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:6290.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:6590.65px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:6930.62px;letter-spacing:-1.1px;white-space:nowrap">quarter, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:7591.03px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:7961.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:8111.25px;white-space:nowrap">few </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:8441.37px;white-space:nowrap">notable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12179.53px;left:9081.91px;white-space:nowrap">exceptions. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1559.87px;left:5220px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1559.87px;left:6053.75px;white-space:nowrap">Composition</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1757.75px;left:5220px;white-space:nowrap">6/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2046.24px;left:9147.5px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2046.24px;left:9334.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2046.24px;left:9529.69px;letter-spacing:-2.37px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2238.24px;left:9078.91px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2238.24px;left:9375.23px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2580.18px;left:5220px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2580.18px;left:5806.95px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2580.18px;left:6731.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2580.18px;left:7034.38px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2580.18px;left:7612.5px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2580.18px;left:9446.33px;white-space:nowrap">75.0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.66px;left:5220px;letter-spacing:-1.61px;white-space:nowrap">Short-Term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.66px;left:6055.7px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.66px;left:6962.73px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.66px;left:7113.91px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.66px;left:7558.52px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.66px;left:7843.13px;white-space:nowrap">Assets*</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.66px;left:9446.33px;white-space:nowrap">25.0%</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:145.94px;white-space:nowrap">Source: </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:634.61px;letter-spacing:-0.6px;white-space:nowrap">Morningstar.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:262.58px;white-space:nowrap">index </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:612.73px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:743.98px;white-space:nowrap">unmanaged </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:1473.52px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:1728.91px;white-space:nowrap">includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:2246.8px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:3034.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:3180.39px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:3428.44px;white-space:nowrap">income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:3887.89px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:4041.02px;white-space:nowrap">distributions. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:4814.14px;white-space:nowrap">It </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:4923.59px;white-space:nowrap">does </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:5244.61px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:5463.52px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:5857.34px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:6105.39px;white-space:nowrap">fees, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:6426.41px;white-space:nowrap">expenses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:7024.61px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:7177.73px;white-space:nowrap">sales </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:7520.55px;white-space:nowrap">charges. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:8060.31px;white-space:nowrap">One </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:8344.84px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:8775.31px;white-space:nowrap">invest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:9154.61px;white-space:nowrap">directly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:9606.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:9745.31px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:0px;white-space:nowrap">index, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:386.64px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:642.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:824.45px;white-space:nowrap">index </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:1174.61px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:1305.86px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:1524.77px;white-space:nowrap">representative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:2392.73px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:2538.67px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:2757.58px;letter-spacing:-0.32px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:3185.63px;white-space:nowrap">portfolio.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:269.92px;letter-spacing:-0.19px;white-space:nowrap">www.franklintempletondatasources.com </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:2618.2px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:2807.81px;white-space:nowrap">additional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:3406.02px;white-space:nowrap">data </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:3697.89px;white-space:nowrap">provider </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:4208.36px;white-space:nowrap">information. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:269.77px;white-space:nowrap">dollar </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:663.52px;white-space:nowrap">value, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:1072.03px;white-space:nowrap">number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:1589.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:1749.92px;white-space:nowrap">shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:2209.45px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:2377.11px;white-space:nowrap">principal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:2960.47px;white-space:nowrap">amount, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:3507.19px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:3776.95px;white-space:nowrap">names </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:4229.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:4389.45px;white-space:nowrap">all </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:4571.88px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:5140.31px;white-space:nowrap">holdings </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:5723.52px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:5956.95px;white-space:nowrap">listed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:6336.17px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:6489.3px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:6722.58px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:7184.38px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:7855.08px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:8015.39px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:813.79px;left:8817.5px;white-space:nowrap">(SOI).</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:269.77px;white-space:nowrap">SOI </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:532.34px;white-space:nowrap">begins </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:991.72px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:1188.52px;white-space:nowrap">page </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1025.02px;left:1531.25px;white-space:nowrap">10</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:1709.22px;white-space:nowrap">.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">That </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:410.19px;white-space:nowrap">trend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:870.47px;white-space:nowrap">reversed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1620.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1800.97px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2211.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2561.4px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2951.46px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3191.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3491.81px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3921.86px;white-space:nowrap">broadly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">depreciated, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1040.71px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1601.1px;white-space:nowrap">returning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2361.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2561.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2711.78px;white-space:nowrap">strengthening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3852.6px;white-space:nowrap">pattern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:190.11px;white-space:nowrap">June. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:680.45px;white-space:nowrap">On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:970.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1270.81px;white-space:nowrap">whole, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1841.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2141.37px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2571.42px;text-rendering:optimizeLegibility;white-space:nowrap">finished </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3241.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3542.08px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:550.37px;white-space:nowrap">broadly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1190.74px;white-space:nowrap">stronger </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1901.07px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2531.51px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2971.58px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3901.9px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:490.17px;white-space:nowrap">exceptions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1450.72px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1640.92px;white-space:nowrap">Asia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2091.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2391.33px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3101.75px;white-space:nowrap">yuan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3542.08px;white-space:nowrap">appreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">1.08% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:560.39px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1190.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1491.06px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1921.11px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2111.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2411.46px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3241.67px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3842.05px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4302.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">Indonesian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:930.76px;white-space:nowrap">rupiah </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1481.13px;white-space:nowrap">depreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2471.84px;white-space:nowrap">3.10%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3082.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3382.47px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3922.91px;white-space:nowrap">rupee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">1.76%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:610.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:910.63px;white-space:nowrap">Singapore </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1781.28px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2271.53px;white-space:nowrap">1.78%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2881.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3182.17px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3702.57px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4333.01px;white-space:nowrap">won </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">3.71% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:560.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:910.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1210.96px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2041.61px;white-space:nowrap">yen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2381.84px;white-space:nowrap">7.05%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2992.24px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3192.36px;white-space:nowrap">Europe, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3872.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:4173.05px;white-space:nowrap">euro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:0px;white-space:nowrap">depreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:990.7px;white-space:nowrap">2.93% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1551.09px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2181.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2481.77px;white-space:nowrap">USD. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2958.57px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:3318.75px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:4229.21px;white-space:nowrap">krone </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:0px;white-space:nowrap">appreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:990.7px;white-space:nowrap">2.60% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:1551.09px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2181.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2481.77px;white-space:nowrap">euro, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2942.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:3292.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:3592.62px;white-space:nowrap">Canadian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:0px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:490.25px;white-space:nowrap">appreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:1480.96px;white-space:nowrap">5.71%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2088.11px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2448.28px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:3178.65px;white-space:nowrap">krona </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:3678.93px;white-space:nowrap">depreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:0px;white-space:nowrap">0.96% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:560.39px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1190.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1491.06px;white-space:nowrap">euro. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1951.35px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:2151.47px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:2581.88px;white-space:nowrap">America, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:3342.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:3642.28px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:4382.58px;white-space:nowrap">real </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:0px;white-space:nowrap">appreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:990.7px;white-space:nowrap">4.38% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:1551.09px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:2181.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:2481.77px;white-space:nowrap">USD, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:2961.83px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:3422.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:3722.26px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:4442.52px;white-space:nowrap">peso </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:0px;white-space:nowrap">depreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:990.7px;white-space:nowrap">0.25%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:1601.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:1901.34px;white-space:nowrap">Colombian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:2811.8px;white-space:nowrap">peso </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3252.13px;white-space:nowrap">8.79% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3812.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:4162.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:660.41px;white-space:nowrap">peso </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1100.74px;white-space:nowrap">3.25%.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;letter-spacing:-1.67px;white-space:nowrap">Vaccine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:677.02px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1687.5px;white-space:nowrap">progressively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2797.91px;white-space:nowrap">accelerated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3778.51px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3968.61px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:0px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:780.38px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1330.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1630.99px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2231.37px;white-space:nowrap">though </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2831.92px;white-space:nowrap">supply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3402.25px;white-space:nowrap">setbacks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:4162.59px;letter-spacing:-0.36px;white-space:nowrap">affected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:0px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:500.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:700.4px;white-space:nowrap">Europe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1330.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1520.95px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2071.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2411.46px;white-space:nowrap">April. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2871.56px;white-space:nowrap">Novel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3381.77px;white-space:nowrap">coronavirus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:0px;white-space:nowrap">(COVID-19) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1000.11px;white-space:nowrap">infection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1720.55px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2230.75px;white-space:nowrap">peaked </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2871.3px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3061.41px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3751.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3941.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:4242.13px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:350.33px;white-space:nowrap">Europe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:980.77px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1541.16px;white-space:nowrap">declining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2301.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2491.79px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3262.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3612.39px;white-space:nowrap">plateauing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:4493.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:0px;white-space:nowrap">March. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:600.12px;white-space:nowrap">Cases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1160.33px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1990.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2191.11px;white-space:nowrap">trend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2651.4px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3131.54px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3311.72px;white-space:nowrap">April, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3771.83px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:4161.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:0px;white-space:nowrap">June. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:490.34px;white-space:nowrap">Governments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1620.79px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2451.45px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2651.57px;white-space:nowrap">struggle </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3341.95px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3712.06px;white-space:nowrap">balancing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:300.23px;white-space:nowrap">needs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:840.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1040.8px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1440.97px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2361.45px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2731.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3031.79px;white-space:nowrap">health </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3572.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3772.35px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:4172.52px;white-space:nowrap">citizens </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:0px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:550.37px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1040.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1240.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1540.9px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1880.86px;white-space:nowrap">half </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2221.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2421.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2721.45px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3271.82px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3832.21px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:0px;white-space:nowrap">vaccination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:950.54px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1400.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1751.04px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2231.19px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2661.42px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:3171.62px;white-space:nowrap">enabled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:3862.27px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:0px;white-space:nowrap">regions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:640.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:840.5px;white-space:nowrap">progressively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:1950.91px;white-space:nowrap">reopen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:2561.4px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:2961.56px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:3882.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:4072.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:0px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:630.44px;letter-spacing:-1.24px;white-space:nowrap">quarter.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">Business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:780.38px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1130.71px;white-space:nowrap">consumer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1971.04px;text-rendering:optimizeLegibility;white-space:nowrap">confidence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2891.69px;white-space:nowrap">surveys </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3561.86px;white-space:nowrap">strengthened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:190.11px;white-space:nowrap">multiple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:860.36px;white-space:nowrap">regions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1500.73px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2051.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2351.34px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2951.72px;white-space:nowrap">particularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3872.02px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:4062.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:630.44px;letter-spacing:-1.1px;white-space:nowrap">quarter, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1290.85px;white-space:nowrap">despite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1921.29px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2411.46px;white-space:nowrap">growing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3091.82px;white-space:nowrap">concerns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3872.2px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4272.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">proliferation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:990.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1190.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1490.89px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2371.11px;white-space:nowrap">delta </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2811.45px;white-space:nowrap">variant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3401.72px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3591.83px;white-space:nowrap">several </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:4222.09px;white-space:nowrap">parts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:500.36px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:980.51px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1170.62px;white-space:nowrap">June, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1660.96px;white-space:nowrap">notably </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2291.4px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2481.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2781.74px;white-space:nowrap">U.K. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3181.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3522.22px;white-space:nowrap">Australia. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">Economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:840.32px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1440.44px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2271.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2471.22px;white-space:nowrap">broadly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3111.59px;white-space:nowrap">expand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3752.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3942.25px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:780.38px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1330.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1630.99px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2261.43px;white-space:nowrap">half </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2601.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2801.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3102.01px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3702.39px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:4282.65px;white-space:nowrap">driven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:240.12px;white-space:nowrap">strength </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:940.52px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1130.63px;white-space:nowrap">goods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1671.06px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2301.24px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2651.57px;white-space:nowrap">manufacturing. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3892.24px;white-space:nowrap">Historically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:390.32px;white-space:nowrap">savings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1050.64px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1500.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1690.93px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2181.09px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2961.47px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3341.69px;white-space:nowrap">fueled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3882.13px;white-space:nowrap">resurgent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:590.27px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:780.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1080.62px;white-space:nowrap">spring </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1620.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1971.21px;white-space:nowrap">summer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2671.26px;white-space:nowrap">months. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3361.55px;white-space:nowrap">Labor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3871.93px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:860.54px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1641.01px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2471.66px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2671.79px;white-space:nowrap">improve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3361.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3552.1px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4042.27px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:550.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:850.61px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1450.99px;white-space:nowrap">though </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2051.54px;white-space:nowrap">unemployment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3282.19px;white-space:nowrap">broadly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3922.56px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:0px;white-space:nowrap">above </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:540.44px;white-space:nowrap">pre-pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1691.02px;white-space:nowrap">levels.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">Inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:680.45px;text-rendering:optimizeLegibility;white-space:nowrap">figures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1270.72px;white-space:nowrap">surged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1871.1px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2421.47px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2611.58px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3101.75px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3882.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:4062.3px;white-space:nowrap">April, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:0px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:390.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:740.39px;white-space:nowrap">June, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1230.73px;white-space:nowrap">driven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1771px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2011.11px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2161.23px;white-space:nowrap">combination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3181.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3381.94px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3972.13px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:0px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:720.53px;white-space:nowrap">cyclical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1350.62px;white-space:nowrap">upswings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2151.04px;white-space:nowrap">associated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:3061.58px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:3431.69px;white-space:nowrap">resurgent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:820.37px;letter-spacing:-1.34px;white-space:nowrap">activity, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1457.14px;white-space:nowrap">supply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2027.46px;white-space:nowrap">bottlenecks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2988.02px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3178.13px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3768.4px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:4398.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:0px;white-space:nowrap">base </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:440.33px;letter-spacing:-0.41px;white-space:nowrap">effects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1017.33px;letter-spacing:-0.81px;white-space:nowrap">off </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1264.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1464.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1764.58px;white-space:nowrap">pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2595.06px;white-space:nowrap">shocks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3205.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3395.39px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3895.84px;white-space:nowrap">Headline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:0px;white-space:nowrap">Consumer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:880.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1340.42px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1830.76px;white-space:nowrap">(CPI) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:2300.71px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:2971.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3161.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3461.48px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3861.56px;white-space:nowrap">rose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:0px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:410.01px;white-space:nowrap">2.6% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:870.29px;white-space:nowrap">year-over-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2090.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2280.76px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2830.87px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3031px;white-space:nowrap">4.2% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3491.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3671.46px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:4081.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:0px;white-space:nowrap">5.0% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:460.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:650.39px;letter-spacing:-2.67px;white-space:nowrap">May, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1077.1px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1307.11px;white-space:nowrap">highest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1937.55px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:2357.75px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:2827.97px;white-space:nowrap">2008. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3328.42px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3528.54px;white-space:nowrap">Europe, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:4208.99px;white-space:nowrap">euro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:0px;white-space:nowrap">area </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:410.27px;white-space:nowrap">(EA) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:820.28px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:1490.71px;white-space:nowrap">rose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:1890.88px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2300.89px;white-space:nowrap">0.9% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2761.17px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2951.28px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3721.55px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3921.68px;white-space:nowrap">1.3% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:4381.96px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5820.12px;white-space:nowrap">1.6% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6280.4px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6460.58px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6870.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7221.01px;white-space:nowrap">2.0% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7681.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7871.4px;letter-spacing:-2.67px;white-space:nowrap">May, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8298.11px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8858.5px;white-space:nowrap">levelling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9558.9px;letter-spacing:-0.81px;white-space:nowrap">off </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9805.78px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">1.9% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5680.28px;white-space:nowrap">(estimated) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6630.56px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6820.66px;white-space:nowrap">June; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7311.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7611.24px;letter-spacing:-3.31px;white-space:nowrap">EA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7891.44px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8241.77px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9102.13px;white-space:nowrap">endured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">deflationary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6200.6px;white-space:nowrap">pressures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7040.92px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7701.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8001.65px;white-space:nowrap">third </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8401.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8752.15px;white-space:nowrap">fourth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9262.44px;white-space:nowrap">quarters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5420.13px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5910.64px;white-space:nowrap">Areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6430.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6631px;white-space:nowrap">non-core </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7391.43px;white-space:nowrap">Europe, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8071.88px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8502.1px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8742.22px;white-space:nowrap">Hungary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9472.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">Russia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5870.21px;white-space:nowrap">experienced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6900.91px;white-space:nowrap">above-target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7961.57px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8471.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8671.9px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9342.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9532.44px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5570.33px;white-space:nowrap">June. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6060.67px;letter-spacing:-1.34px;white-space:nowrap">Globally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6797.64px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7297.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7498.04px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7928.44px;white-space:nowrap">America, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8688.6px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9118.83px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9358.95px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5570.33px;white-space:nowrap">Mexico, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6240.5px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6620.71px;white-space:nowrap">experienced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7651.41px;white-space:nowrap">above-target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8712.07px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9382.5px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5520.23px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6120.62px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6580.81px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7251.24px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7761.45px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8561.87px;white-space:nowrap">relatively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9322.12px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">contained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6050.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6240.76px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6741.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6931.23px;white-space:nowrap">Asia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7381.41px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7811.63px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8051.75px;white-space:nowrap">China, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8622.07px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9142.47px;white-space:nowrap">Korea, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6050.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6397.73px;white-space:nowrap">Thailand.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">Pent-up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5900.45px;white-space:nowrap">demand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6600.94px;white-space:nowrap">outpaced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7391.6px;white-space:nowrap">supply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7961.92px;white-space:nowrap">recoveries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8842.24px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9032.34px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5850.18px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6400.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6700.78px;white-space:nowrap">spring </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7241.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7591.38px;white-space:nowrap">summer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8291.43px;white-space:nowrap">months, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8981.72px;white-space:nowrap">adding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9572.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5800.25px;white-space:nowrap">pressures. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6690.59px;white-space:nowrap">Supply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7290.97px;white-space:nowrap">bottlenecks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8251.52px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8691.86px;white-space:nowrap">intermittently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">surfaced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5960.39px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6540.56px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6690.67px;white-space:nowrap">myriad </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7280.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7480.9px;white-space:nowrap">industries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8301.27px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8651.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8851.73px;white-space:nowrap">accelerating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">demand, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5970.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6210.62px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6570.7px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6810.82px;white-space:nowrap">logistical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7551.12px;white-space:nowrap">disruptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8471.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8821.93px;white-space:nowrap">ongoing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">uncertainties </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6290.6px;white-space:nowrap">(economic, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7220.92px;white-space:nowrap">health </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7761.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8111.69px;white-space:nowrap">policy) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8681.84px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9032.08px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9522.25px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">difficult </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5830.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6030.35px;white-space:nowrap">accurately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6900.73px;white-space:nowrap">schedule </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7671.27px;white-space:nowrap">production.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5220px;white-space:nowrap">Most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5660.07px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6250.34px;white-space:nowrap">banks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6780.67px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7391.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7691.4px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8171.54px;white-space:nowrap">signaled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8892.07px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:9442.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">middle </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5800.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6000.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6300.62px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7130.83px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7681.2px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8031.45px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8421.68px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8772.01px;white-space:nowrap">reached </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5520.23px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5870.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6070.69px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6470.86px;white-space:nowrap">rate-cutting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7421.31px;white-space:nowrap">cycles, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8021.43px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8391.53px;white-space:nowrap">several </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9021.8px;white-space:nowrap">banks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5220px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6050.74px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6250.87px;white-space:nowrap">pivot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6681.09px;white-space:nowrap">towards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7361.37px;white-space:nowrap">plans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7841.69px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8101.76px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8611.96px;white-space:nowrap">normalization. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5580.18px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6040.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6240.59px;white-space:nowrap">Canada </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6921.12px;white-space:nowrap">began </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7471.67px;white-space:nowrap">tapering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8172.16px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8402.17px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8882.4px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:9762.89px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5220px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5630.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5980.43px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6750.97px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7101.21px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7741.49px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8191.67px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8671.99px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8922.22px;white-space:nowrap">raised </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9462.48px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9652.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5220px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5850.44px;white-space:nowrap">half </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6190.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6390.79px;white-space:nowrap">2022. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6887.99px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7248.16px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7708.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7908.57px;white-space:nowrap">England </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8619.17px;white-space:nowrap">headed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:9269.82px;white-space:nowrap">towards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5220px;white-space:nowrap">concluding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6130.63px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6360.64px;white-space:nowrap">quantitative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7331.31px;white-space:nowrap">easing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7911.74px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8632px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8872.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:9172.35px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:9522.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5220px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5720.45px;white-space:nowrap">Norges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:6350.71px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:6811px;white-space:nowrap">(Norway) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:7591.03px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:8361.56px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:8711.81px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:8861.92px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:9222.1px;white-space:nowrap">hike </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:9602.31px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5220px;white-space:nowrap">arrive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5720.1px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5910.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6210.44px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6840.88px;white-space:nowrap">half </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7181.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7381.23px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7881.68px;white-space:nowrap">Riksbank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:8671.99px;white-space:nowrap">(Sweden) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:9492.36px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5470.22px;white-space:nowrap">pace </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5910.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6110.68px;white-space:nowrap">wind </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6530.89px;white-space:nowrap">down </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7011.21px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7241.22px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7721.46px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8511.94px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:9232.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:9422.31px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5220px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5520.23px;white-space:nowrap">intended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6260.89px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6461.02px;white-space:nowrap">keep </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6901.35px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7351.52px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7601.75px;white-space:nowrap">hold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7992.07px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8192.2px;white-space:nowrap">0% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8502.36px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8762.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9062.67px;white-space:nowrap">foreseeable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5220px;white-space:nowrap">future. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5777.05px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6137.23px;white-space:nowrap">Reserve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6857.49px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7317.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7517.9px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7928px;white-space:nowrap">Zealand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8628.49px;white-space:nowrap">intended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9369.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9569.27px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5220px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5450.01px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5930.24px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6810.73px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7050.85px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7981.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8331.68px;white-space:nowrap">begin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8822.11px;white-space:nowrap">hiking </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9342.42px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9792.6px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">mid-2022. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6070.43px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6570.62px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7451.37px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8051.48px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8641.76px;white-space:nowrap">banks&#8212;including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5520.23px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5920.31px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6580.63px;white-space:nowrap">Reserve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7300.9px;white-space:nowrap">(Fed), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7830.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8131.2px;white-space:nowrap">European </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8961.86px;white-space:nowrap">Central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9592.12px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">(ECB) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5760px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6110.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6410.57px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6870.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7070.98px;white-space:nowrap">Japan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7611.42px;white-space:nowrap">(BOJ)&#8212;had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8611.7px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8911.93px;white-space:nowrap">yet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9202.06px;white-space:nowrap">signaled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9922.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">normalization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6340.52px;white-space:nowrap">schedule </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7111.05px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7351.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7551.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7851.53px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8201.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8401.99px;white-space:nowrap">June.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:5220px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:5420.13px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:6220.55px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:6960.67px;white-space:nowrap">several </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:7590.94px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:8371.32px;white-space:nowrap">faced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:8861.66px;white-space:nowrap">persistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:5890.43px;white-space:nowrap">pressures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:6730.75px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:7081px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:7471.05px;white-space:nowrap">force </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:7921.23px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:8071.35px;white-space:nowrap">faster </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:8571.53px;white-space:nowrap">tightening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:5220px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:6010.49px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:6420.5px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:6820.66px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:7410.94px;white-space:nowrap">banks. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:7991.28px;letter-spacing:-1.48px;white-space:nowrap">Notably, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:8688.25px;letter-spacing:-0.36px;white-space:nowrap">Brazil&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:9315.09px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:5220px;white-space:nowrap">bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:5660.33px;white-space:nowrap">hiked </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:6140.65px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:6590.83px;white-space:nowrap">75 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:6841.05px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:7181.28px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:7641.56px;white-space:nowrap">times </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:8121.62px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:8671.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:8972.23px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:5220px;white-space:nowrap">(March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:5880.06px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:6270.12px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:6620.45px;white-space:nowrap">June) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:7120.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:7320.85px;white-space:nowrap">4.25%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:7931.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:8281.58px;letter-spacing:-0.36px;white-space:nowrap">Mexico&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:9028.48px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:9618.75px;white-space:nowrap">bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:5220px;white-space:nowrap">hiked </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:5700.32px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:5930.33px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:6440.54px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:6800.71px;white-space:nowrap">25 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:7050.94px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:7391.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:7581.27px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:8021.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:8221.73px;white-space:nowrap">4.25%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:8832.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:9062.14px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:9402.1px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:5220px;white-space:nowrap">hike </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:5600.21px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:6070.43px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:6950.74px;white-space:nowrap">2018. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:7451.19px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:7951.38px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:8731.76px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:9502.29px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5610.06px;white-space:nowrap">begin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6100.49px;white-space:nowrap">pursuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6840.97px;white-space:nowrap">tightening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7671.62px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8321.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8512.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8812.27px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:9442.71px;white-space:nowrap">half </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:9782.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5220px;white-space:nowrap">2021.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:5580.18px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:5940.35px;white-space:nowrap">kept </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:6330.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:6630.82px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:7231.2px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:7721.54px;white-space:nowrap">target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:8231.84px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:8592.01px;white-space:nowrap">unchanged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:9532.88px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:5220px;white-space:nowrap">0.00%&#8211;0.25%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:6440.89px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:6641.02px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:7081.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:7281.47px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:7511.48px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:8021.69px;white-space:nowrap">meetings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:8802.07px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:9352.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:5220px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:5820.38px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:6020.51px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:6620.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:6920.86px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:7281.04px;white-space:nowrap">notably </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:7911.47px;white-space:nowrap">upgraded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:8722.18px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:8952.19px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:5220px;white-space:nowrap">forecast </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:5910.29px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:6170.36px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:6620.8px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:6820.93px;white-space:nowrap">6.5% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:7281.21px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:7691.22px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:7921.23px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:8331.33px;white-space:nowrap">estimate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:9061.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:9261.74px;white-space:nowrap">4.2% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:5410.11px;letter-spacing:-0.99px;white-space:nowrap">December. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:6327.25px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:6687.42px;white-space:nowrap">core </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:7087.59px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:7758.02px;white-space:nowrap">forecast </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:8448.31px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:8818.42px;white-space:nowrap">upgraded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:9629.12px;white-space:nowrap">to </div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">2.2% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:460.28px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:720.35px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1220.8px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1630.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1931.04px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2341.14px;white-space:nowrap">estimate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3071.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3271.55px;white-space:nowrap">1.8%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3781.85px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:360.18px;white-space:nowrap">Chair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:840.32px;white-space:nowrap">Jay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1170.44px;white-space:nowrap">Powell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1750.69px;white-space:nowrap">cautioned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2581.35px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2931.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3081.71px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3361.82px;white-space:nowrap">recovery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4102.03px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">still </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:309.99px;white-space:nowrap">distant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:890.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1240.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1590.91px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2411.28px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3271.82px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4102.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">warrant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:650.21px;white-space:nowrap">extraordinary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1750.69px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2551.03px;white-space:nowrap">accommodation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3921.68px;white-space:nowrap">citing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4391.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">uncertainty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:930.5px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1530.88px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1731.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2031.24px;white-space:nowrap">course </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2621.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2821.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3121.88px;white-space:nowrap">pandemic.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:200.13px;white-space:nowrap">June, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:690.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:990.7px;white-space:nowrap">overall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1570.96px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2081.16px;white-space:nowrap">tone </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2481.5px;white-space:nowrap">shifted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3061.85px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3251.95px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3402.07px;white-space:nowrap">hawkish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4102.38px;white-space:nowrap">direction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:540.35px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:900.53px;white-space:nowrap">raised </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1440.79px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1670.8px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2121.24px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2711.51px;white-space:nowrap">forecast </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3401.81px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3661.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3962.11px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">economy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:780.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:980.51px;white-space:nowrap">7.0% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1440.79px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1791.12px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2621.6px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2851.61px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3522.04px;white-space:nowrap">forecast </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:4212.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">3.4%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:510.29px;white-space:nowrap">Powell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1090.55px;white-space:nowrap">commented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2080.99px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2431.23px;white-space:nowrap">&#8220;the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2791.41px;white-space:nowrap">economy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3571.79px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3912.01px;white-space:nowrap">clearly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:500.27px;white-space:nowrap">progress,&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1360.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1710.88px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1861px;white-space:nowrap">majority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2541.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2741.22px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3101.4px;text-rendering:optimizeLegibility;white-space:nowrap">officials </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3751.61px;white-space:nowrap">brought </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:650.21px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1050.38px;white-space:nowrap">projected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1840.87px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2901.53px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3161.6px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3521.78px;white-space:nowrap">hikes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:4038.75px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:4398.93px;letter-spacing:-0.54px;white-space:nowrap">Fed&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">dot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:300.23px;white-space:nowrap">plot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:640.46px;white-space:nowrap">survey </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1220.63px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1570.96px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2431.32px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3201.86px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:4262.52px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:4522.59px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">hikes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:470.21px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:850.43px;white-space:nowrap">2024 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1300.87px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1501px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1801.23px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2351.34px;white-space:nowrap">meeting. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3091.73px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3291.86px;white-space:nowrap">June, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3782.2px;white-space:nowrap">13 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4032.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4232.55px;white-space:nowrap">18 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4482.77px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">officials </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:650.21px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1420.75px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2481.42px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2741.48px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2891.6px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3251.78px;white-space:nowrap">hike </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3631.99px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3872.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4172.34px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4522.68px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">2023, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:500.45px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:870.56px;letter-spacing:-4.45px;white-space:nowrap">11 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1107.42px;white-space:nowrap">indicating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1917.95px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2978.61px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3238.68px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3568.8px;white-space:nowrap">hikes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4089.02px;white-space:nowrap">Seven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">officials </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:650.21px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1420.75px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2481.42px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2741.48px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2941.61px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3371.84px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3722.17px;white-space:nowrap">hike </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4102.38px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4342.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:350.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:550.46px;white-space:nowrap">2022. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1050.91px;white-space:nowrap">Powell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1631.16px;white-space:nowrap">cautioned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2461.82px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2812.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3112.29px;white-space:nowrap">dot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3412.53px;white-space:nowrap">surveys </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:4082.7px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:4332.92px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:540.18px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1190.39px;white-space:nowrap">guidance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1971.04px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2381.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2681.28px;white-space:nowrap">committee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3561.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3911.84px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:4262.08px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:0px;white-space:nowrap">discussion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:890.42px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1390.87px;white-space:nowrap">raising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1971.12px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2421.3px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2601.3px;white-space:nowrap">still </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2911.29px;white-space:nowrap">&#8220;highly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3491.54px;white-space:nowrap">premature.&#8221;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">Powell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:580.25px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:960.47px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1731.01px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1921.11px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2361.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2711.69px;white-space:nowrap">discussions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3692.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3892.24px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4372.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">begin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:490.43px;white-space:nowrap">tapering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1190.92px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1420.93px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1901.16px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2691.65px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3411.91px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3762.25px;white-space:nowrap">begun, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4362.8px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:350.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:650.48px;white-space:nowrap">timeline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1320.73px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1500.73px;white-space:nowrap">yet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1790.86px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1990.99px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2241.21px;white-space:nowrap">determined. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3238.51px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3598.68px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3958.86px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:200.13px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:990.62px;white-space:nowrap">&#8220;at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1250.68px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1680.91px;white-space:nowrap">$80 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2031.24px;white-space:nowrap">billion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2541.53px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2851.7px;white-space:nowrap">month&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3461.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3652.03px;letter-spacing:-3.99px;white-space:nowrap">USTs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:4132.09px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">&#8220;at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:260.07px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:690.29px;white-space:nowrap">$40 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1040.63px;white-space:nowrap">billion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1550.92px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1861.08px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2411.37px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2601.47px;white-space:nowrap">agency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3231.91px;white-space:nowrap">mortgage-backed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">securities&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:870.21px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1420.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1720.81px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2481.24px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3078.37px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3438.54px;letter-spacing:-0.54px;white-space:nowrap">Fed&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3925.46px;white-space:nowrap">balance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">sheet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:490.34px;white-space:nowrap">reached </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1190.83px;white-space:nowrap">US$8.1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1841.22px;white-space:nowrap">trillion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2361.36px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2561.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2861.72px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3212.05px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3412.18px;white-space:nowrap">June.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:0px;white-space:nowrap">Despite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:660.32px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:1210.69px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:1610.77px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:2281.2px;text-rendering:optimizeLegibility;white-space:nowrap">figures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:2871.47px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:3421.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:3722.08px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:4322.46px;white-space:nowrap">Powell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:0px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:830.65px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:1030.78px;white-space:nowrap">dispel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:1551.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:1851.33px;white-space:nowrap">notion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:2391.77px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:2742.01px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:3292.38px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:3962.81px;text-rendering:optimizeLegibility;white-space:nowrap">figures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:4553.09px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:0px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:450.44px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:970.75px;white-space:nowrap">necessitate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:1931.31px;white-space:nowrap">near-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:2761.52px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:3121.7px;white-space:nowrap">hikes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:3641.92px;white-space:nowrap">reiterating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:4492.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:0px;letter-spacing:-0.54px;white-space:nowrap">Fed&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:486.91px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:897.01px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:1247.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:1547.49px;text-rendering:optimizeLegibility;white-space:nowrap">figures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:2137.76px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:2718.02px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:3258.19px;white-space:nowrap">&#8220;transitory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:4108.36px;white-space:nowrap">factors&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:350.24px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:870.56px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1170.79px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1657.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1958.03px;white-space:nowrap">course </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:2548.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:2748.43px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:3548.76px;letter-spacing:-1.67px;white-space:nowrap">policy. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:4095.62px;white-space:nowrap">Core </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:0px;white-space:nowrap">personal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:740.48px;white-space:nowrap">consumption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:1811.07px;white-space:nowrap">expenditures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:2891.78px;white-space:nowrap">(PCE) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:3431.78px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:4102.21px;white-space:nowrap">surged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:4702.59px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:0px;white-space:nowrap">3.4% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:460.28px;white-space:nowrap">year-over-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1680.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1870.75px;letter-spacing:-2.67px;white-space:nowrap">May, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2297.46px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2527.47px;white-space:nowrap">highest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3157.91px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3578.12px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4048.33px;white-space:nowrap">1992, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4548.78px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:0px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:410.01px;white-space:nowrap">3.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:870.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1050.47px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1460.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1810.9px;white-space:nowrap">1.9% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2271.18px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2461.29px;white-space:nowrap">March. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3058.15px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3418.33px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3778.51px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:4609.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:0px;white-space:nowrap">indicate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:670.43px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:810.44px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1110.41px;white-space:nowrap">let </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1350.53px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2020.96px;white-space:nowrap">run </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2331.12px;white-space:nowrap">above </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2871.56px;white-space:nowrap">2.0% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3331.85px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3591.91px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:4232.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:4432.41px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:200.13px;white-space:nowrap">counterbalance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1481.04px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1891.14px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2531.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2731.64px;white-space:nowrap">prolonged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3582.33px;white-space:nowrap">below-target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">inflation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:720.44px;white-space:nowrap">implying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1430.68px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1780.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2081.16px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2441.34px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2741.31px;white-space:nowrap">allow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3201.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3501.74px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3901.82px;white-space:nowrap">economy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:200.13px;white-space:nowrap">run </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:510.29px;white-space:nowrap">hot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:810.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1000.63px;white-space:nowrap">upcoming </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1831.11px;white-space:nowrap">years. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2371.29px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3171.62px;white-space:nowrap">Powell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3751.88px;white-space:nowrap">directly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:0px;white-space:nowrap">addressed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:890.6px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1250.77px;white-space:nowrap">credibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2051.02px;white-space:nowrap">concerns, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2881.41px;white-space:nowrap">stating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3461.75px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3811.99px;white-space:nowrap">&#8220;if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:4011.94px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:4292.05px;white-space:nowrap">see </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:670.43px;white-space:nowrap">moving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:1300.69px;white-space:nowrap">materially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2120.89px;white-space:nowrap">above </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2661.33px;white-space:nowrap">2% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2971.49px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3161.6px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3311.72px;white-space:nowrap">persistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:4142.11px;white-space:nowrap">way </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:4512.22px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:0px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:419.94px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1090.37px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2151.04px;white-space:nowrap">drifting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2741.31px;white-space:nowrap">up, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3041.54px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3441.88px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3721.99px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:4021.96px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:4362.19px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">tools </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:430.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:630.35px;white-space:nowrap">guide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1120.78px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1791.21px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2851.88px;white-space:nowrap">back </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3282.1px;white-space:nowrap">down.&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3862.44px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:4122.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:4322.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:0px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:440.33px;white-space:nowrap">meeting, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1180.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1480.96px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1841.13px;white-space:nowrap">projected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2631.62px;white-space:nowrap">core </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3031.79px;white-space:nowrap">PCE </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3451.9px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3751.88px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:4002.1px;white-space:nowrap">3.0% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:4462.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:0px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:500.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:850.78px;white-space:nowrap">2.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1311.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1501.17px;white-space:nowrap">2022 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1951.61px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2301.94px;white-space:nowrap">2023.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:360.18px;white-space:nowrap">ECB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:780.29px;white-space:nowrap">kept </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1170.53px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1970.86px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2481.06px;white-space:nowrap">unchanged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3421.93px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3622.06px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:4062.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:0px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:230.01px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:740.21px;white-space:nowrap">meetings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:1520.6px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:2070.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:2371.2px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:2971.58px;white-space:nowrap">leaving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:3592px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:3892.24px;white-space:nowrap">main </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">refinancing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:930.59px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:1821.18px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:2181.36px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:2381.48px;white-space:nowrap">0.0%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:2891.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:3242.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:3542.34px;white-space:nowrap">main </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:3982.5px;white-space:nowrap">deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:0px;white-space:nowrap">facility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:550.11px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:910.28px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:1110.41px;white-space:nowrap">-0.5%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:1680.64px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:1880.77px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:2480.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:2781.12px;white-space:nowrap">ECB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:3201.24px;white-space:nowrap">announced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:4142.11px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:4492.35px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:0px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:520.31px;white-space:nowrap">accelerate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:1400.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:1701.04px;white-space:nowrap">pace </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:2141.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:2341.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:2571.5px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:3021.94px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:3902.43px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:4412.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:5220px;white-space:nowrap">Pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:6070.43px;white-space:nowrap">Emergency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:7030.81px;white-space:nowrap">Purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:7841.25px;white-space:nowrap">Programme </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:8831.51px;white-space:nowrap">(PEPP). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:9531.65px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:5220px;white-space:nowrap">June, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:5710.34px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:5850.35px;white-space:nowrap">recommitted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:6890.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:7090.75px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:7581.09px;white-space:nowrap">levels, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:8141.31px;white-space:nowrap">stating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:8721.65px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:9071.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:9372.13px;white-space:nowrap">pace </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:5570.33px;white-space:nowrap">volume </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:6200.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:6400.72px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:6851.16px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:7731.65px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:8242.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:8542.27px;letter-spacing:-0.65px;white-space:nowrap">PEPP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:9069.26px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:5220px;white-space:nowrap">&#8220;continue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:6010.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:6210.62px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:6460.84px;white-space:nowrap">conducted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:7341.5px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:7541.63px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:7691.75px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:8672.17px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:9222.54px;white-space:nowrap">pace </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:9662.87px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:5220px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:5770.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:6070.61px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:6410.57px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:7050.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:7250.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:7551.21px;letter-spacing:-1.42px;white-space:nowrap">year.&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:8048.14px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:8408.32px;letter-spacing:-0.65px;white-space:nowrap">PEPP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:8935.31px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.3px;left:9115.31px;white-space:nowrap">currently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:5220px;white-space:nowrap">scheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:6090.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:6290.77px;white-space:nowrap">run </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:6600.94px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:7261.44px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:7811.54px;white-space:nowrap">2022 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:8261.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:8612.31px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:8952.54px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4001.3px;left:9563.03px;white-space:nowrap">&#8364;700 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:5220px;white-space:nowrap">billion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:5730.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:5920.4px;white-space:nowrap">capacity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:6630.73px;white-space:nowrap">remaining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:7471.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:7671.27px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:7901.28px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:8291.51px;white-space:nowrap">&#8364;1.85 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:8791.96px;white-space:nowrap">trillion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4251.3px;left:9312.1px;white-space:nowrap">size. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:5580.18px;white-space:nowrap">ECB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:6000.29px;white-space:nowrap">raised </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:6540.56px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:6770.57px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:7221.01px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:7811.28px;white-space:nowrap">forecast </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:8501.57px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:8761.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:9061.88px;letter-spacing:-3.31px;white-space:nowrap">EA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:9342.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4501.3px;left:9542.2px;white-space:nowrap">4.6% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4751.3px;left:5220px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4751.3px;left:5420.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4751.3px;left:5650.14px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4751.3px;left:6090.47px;white-space:nowrap">meeting, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4751.3px;left:6830.86px;white-space:nowrap">describing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4751.3px;left:7701.33px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4751.3px;left:8561.87px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4751.3px;left:8801.98px;white-space:nowrap">&#8220;balanced&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:5570.33px;white-space:nowrap">removing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:6360.64px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:6770.74px;white-space:nowrap">comments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:7650.97px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:8001.21px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:8421.15px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:8861.31px;white-space:nowrap">&#8220;titled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:9351.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5001.3px;left:9551.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5251.3px;left:5220px;white-space:nowrap">downside.&#8221;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:5580.18px;white-space:nowrap">ECB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:6000.29px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:6380.51px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:7210.99px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:7441px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:7891.44px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:8561.87px;white-space:nowrap">forecast </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:9252.16px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5681.3px;left:9512.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:5220px;letter-spacing:-3.31px;white-space:nowrap">EA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:5500.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:5700.32px;white-space:nowrap">1.9% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:6160.61px;white-space:nowrap">(harmonized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:7211.07px;white-space:nowrap">index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:7691.4px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:7891.52px;white-space:nowrap">consumer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:8731.85px;white-space:nowrap">prices) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5931.3px;left:9321.94px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6181.3px;left:5220px;white-space:nowrap">1.5%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6181.3px;left:5730.29px;white-space:nowrap">ECB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6181.3px;left:6150.41px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6181.3px;left:6960.85px;white-space:nowrap">Christine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6181.3px;left:7721.1px;white-space:nowrap">Lagarde </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6181.3px;left:8431.7px;white-space:nowrap">commented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6181.3px;left:9422.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6181.3px;left:9612.25px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:5220px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:5570.24px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:6240.67px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:7041.09px;white-space:nowrap">distant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:7621.44px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:8031.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:8331.68px;letter-spacing:-0.54px;white-space:nowrap">ECB&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:8878.54px;white-space:nowrap">target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:9388.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6431.3px;left:9739.16px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:5220px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:6000.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:6200.68px;white-space:nowrap">diminish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:6910.93px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:7101.04px;white-space:nowrap">2022. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:7601.48px;white-space:nowrap">Lagarde </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:8312.08px;white-space:nowrap">warned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:8952.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6681.3px;left:9302.7px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6931.3px;left:5220px;white-space:nowrap">tightening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6931.3px;left:6050.65px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6931.3px;left:6570.97px;white-space:nowrap">jeopardize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6931.3px;left:7451.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6931.3px;left:7751.78px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6931.3px;left:8572.15px;white-space:nowrap">recovery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6931.3px;left:9312.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6931.3px;left:9662.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7181.3px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7181.3px;left:5890.43px;white-space:nowrap">outlook.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:5580.18px;white-space:nowrap">BOJ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:5980.25px;white-space:nowrap">kept </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:6370.49px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:7170.82px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:7681.03px;white-space:nowrap">unchanged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:8621.89px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:8822.02px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:9262.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7611.3px;left:9462.48px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7861.3px;left:5220px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7861.3px;left:5730.21px;white-space:nowrap">meetings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7861.3px;left:6510.59px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7861.3px;left:7060.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7861.3px;left:7361.19px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7861.3px;left:7961.57px;white-space:nowrap">leaving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7861.3px;left:8581.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7861.3px;left:8882.23px;white-space:nowrap">overnight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:5220px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:5860.28px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:6220.46px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:6470.6px;white-space:nowrap">0.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:6930.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:7281.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:7581.45px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:8001.65px;white-space:nowrap">target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:8511.94px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:8762.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8111.3px;left:9062.4px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8361.3px;left:5220px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8361.3px;left:6050.65px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8361.3px;left:7051.2px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8361.3px;left:7501.64px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8361.3px;left:7701.77px;white-space:nowrap">0.0%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8361.3px;left:8208.81px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8361.3px;left:8568.98px;white-space:nowrap">BOJ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8361.3px;left:8969.06px;white-space:nowrap">published </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:5520.23px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:6100.4px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:6300.53px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:6530.54px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:7330.87px;white-space:nowrap">framework </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:8221.03px;white-space:nowrap">review </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:8791.17px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8611.3px;left:8981.28px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:5520.23px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:5860.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:6060.32px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:6290.33px;white-space:nowrap">kind </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:6670.55px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:7140.76px;white-space:nowrap">2016. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:7637.96px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:7998.13px;text-rendering:optimizeLegibility;white-space:nowrap">findings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:8668.56px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8861.3px;left:9439.1px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9111.3px;left:5220px;white-space:nowrap">shift </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9111.3px;left:5600.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9111.3px;left:5800.25px;white-space:nowrap">emphasis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9111.3px;left:6620.63px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9111.3px;left:7030.63px;white-space:nowrap">aggressive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9111.3px;left:7951.11px;white-space:nowrap">stimulus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9111.3px;left:8661.27px;white-space:nowrap">towards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9111.3px;left:9341.54px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:5220px;white-space:nowrap">&#8220;sustainable&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:6300.53px;letter-spacing:-1.67px;white-space:nowrap">policy. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:6844.13px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:7204.31px;white-space:nowrap">BOJ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:7604.38px;white-space:nowrap">said </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:7984.6px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:8124.61px;white-space:nowrap">plans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:8604.93px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:8805.06px;white-space:nowrap">intervene </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9361.3px;left:9595.55px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9611.3px;left:5220px;white-space:nowrap">needed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9611.3px;left:5870.65px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9611.3px;left:6421.03px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9611.3px;left:7001.37px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9611.3px;left:7351.61px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9611.3px;left:7961.92px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9611.3px;left:8672.34px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9611.3px;left:9272.46px;white-space:nowrap">support, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:5220px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:5520.23px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:5820.21px;white-space:nowrap">shift </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:6200.33px;white-space:nowrap">away </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:6670.55px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:7080.56px;white-space:nowrap">continuous </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:8001.21px;white-space:nowrap">balance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:8681.75px;white-space:nowrap">sheet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9861.3px;left:9172.09px;white-space:nowrap">expansion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10111.3px;left:5220px;white-space:nowrap">solely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10111.3px;left:5730.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10111.3px;left:5930.33px;white-space:nowrap">stimulate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10111.3px;left:6700.61px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10111.3px;left:7520.98px;letter-spacing:-1.34px;white-space:nowrap">activity. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10111.3px;left:8157.74px;white-space:nowrap">Japan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10111.3px;left:8698.18px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10111.3px;left:9528.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10361.3px;left:5220px;white-space:nowrap">struggle </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10361.3px;left:5910.38px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10361.3px;left:6540.82px;text-rendering:optimizeLegibility;white-space:nowrap">deflationary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10361.3px;left:7521.42px;white-space:nowrap">pressures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10361.3px;left:8361.74px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10361.3px;left:8711.98px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10361.3px;left:9152.31px;white-space:nowrap">persisted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:5220px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:5680.28px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:6090.38px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:6590.83px;white-space:nowrap">Core </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:7030.99px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:7701.42px;white-space:nowrap">(National </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:8471.78px;white-space:nowrap">CPI </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:8821.85px;white-space:nowrap">ex-fresh </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10611.3px;left:9522.07px;white-space:nowrap">food) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:5220px;white-space:nowrap">rose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:5620.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:5820.29px;white-space:nowrap">0.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:6280.58px;white-space:nowrap">year-over-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:7500.94px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:7691.04px;letter-spacing:-2.67px;white-space:nowrap">May, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:8117.75px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:8527.76px;white-space:nowrap">-0.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:9047.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:9228.16px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10861.3px;left:9638.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11111.3px;left:5220px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11111.3px;left:5820.12px;white-space:nowrap">-0.4% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11111.3px;left:6340.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11111.3px;left:6530.45px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11111.3px;left:7300.72px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11111.3px;left:7651.05px;white-space:nowrap">-0.6% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11111.3px;left:8171.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11111.3px;left:8361.39px;letter-spacing:-1.67px;white-space:nowrap">January.</div></div>
		</div>
		<div style="background-image:url(data:image/png;base64,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);background-repeat:no-repeat;background-size:cover;height:133px;left:297px;position:absolute;top:81px;width:244px">
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			<div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:17.46px;left:0px;white-space:nowrap">Geographic </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:17.46px;left:1108.55px;white-space:nowrap">Composition</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:215.34px;left:0px;white-space:nowrap">6/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:503.83px;left:3927.5px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:503.83px;left:4114.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:503.83px;left:4309.69px;letter-spacing:-2.37px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:695.83px;left:3858.91px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:695.83px;left:4155.23px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1037.77px;left:0px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1037.77px;left:355.7px;text-rendering:optimizeLegibility;white-space:nowrap">Pacific</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1037.77px;left:4226.33px;white-space:nowrap">38.0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1298.25px;left:0px;white-space:nowrap">Americas</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1298.25px;left:4226.33px;white-space:nowrap">18.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1558.73px;left:0px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1558.73px;left:444.61px;white-space:nowrap">Europe</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1558.73px;left:4226.33px;white-space:nowrap">10.0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:0px;white-space:nowrap">Middle </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:515.78px;white-space:nowrap">East </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:880.39px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:1022.73px;white-space:nowrap">Africa</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:4315.31px;white-space:nowrap">7.5%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2079.7px;left:0px;white-space:nowrap">Supranational</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2079.7px;left:4315.31px;white-space:nowrap">1.2%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:0px;letter-spacing:-1.61px;white-space:nowrap">Short-Term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:835.7px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:1742.73px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:1893.91px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:2338.52px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:2623.13px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:4226.33px;white-space:nowrap">25.0%</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:51px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:936px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:644.15px;white-space:nowrap">5</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5369.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1343.93px;white-space:nowrap">Strategy</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:0px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:316.76px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:836.98px;white-space:nowrap">selectively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:1717.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:1907.4px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:2447.84px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:3058.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:3358.56px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:3838.71px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:4038.84px;white-space:nowrap">generate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:0px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:630.26px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:890.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:1190.57px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:1700.86px;white-space:nowrap">seeking </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:2371.29px;white-space:nowrap">opportunities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:3451.99px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:3912.19px;white-space:nowrap">monitoring </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:0px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:730.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:920.65px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:1560.94px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:2061.12px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:2801.34px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:3631.99px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:4082.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:0px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:490.17px;white-space:nowrap">risks. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:960.12px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:1276.88px;white-space:nowrap">seek </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:1707.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:1907.23px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:2607.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:2907.95px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:3494.97px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:4285.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:0px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:630.26px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1510.58px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1860.91px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:2250.97px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:2591.19px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:3331.41px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:3981.62px;white-space:nowrap">contracts.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1920.75px;left:0px;letter-spacing:0.5px;white-space:nowrap">Manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1920.75px;left:1291.11px;white-space:nowrap">Discussion</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2296.08px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2296.08px;left:360.18px;white-space:nowrap">successful </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2296.08px;left:1250.51px;white-space:nowrap">development </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2296.08px;left:2331.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2296.08px;left:2531.34px;white-space:nowrap">vaccines </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2296.08px;left:3281.66px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2296.08px;left:3912.1px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:190.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:490.34px;text-rendering:optimizeLegibility;white-space:nowrap">final </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:870.56px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:1510.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:1710.97px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:2161.41px;white-space:nowrap">substantially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:3201.94px;white-space:nowrap">changed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:3942.6px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2546.08px;left:4252.76px;white-space:nowrap">outlook </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:350.33px;white-space:nowrap">positioning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:1260.97px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:1521.04px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:2021.48px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:2221.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:2521.85px;white-space:nowrap">weeks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:3082.06px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:3642.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2796.08px;left:3942.69px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3046.08px;left:0px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3046.08px;left:760.43px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3046.08px;left:1310.8px;white-space:nowrap">began, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3046.08px;left:1911.36px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3046.08px;left:2191.46px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3046.08px;left:3171.88px;white-space:nowrap">shifted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3046.08px;left:3752.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3046.08px;left:4052.46px;white-space:nowrap">emphasis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:500.36px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:1087.38px;white-space:nowrap">strategic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:1817.67px;white-space:nowrap">positioning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:2728.3px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:3138.31px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:3288.43px;white-space:nowrap">safe-haven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3296.08px;left:4229.03px;white-space:nowrap">stance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:0px;white-space:nowrap">toward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:590.27px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:840.5px;white-space:nowrap">increasing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:1710.97px;white-space:nowrap">allocation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:2521.49px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:2711.6px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:3041.54px;white-space:nowrap">assets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:3661.79px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3546.08px;left:3978.54px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3796.08px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3796.08px;left:150.12px;white-space:nowrap">rebound </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3796.08px;left:860.71px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3796.08px;left:1050.82px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3796.08px;left:1581.24px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3796.08px;left:2401.61px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3796.08px;left:3001.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3796.08px;left:3352.06px;white-space:nowrap">improving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:820.37px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:1680.91px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:1871.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:2171.25px;white-space:nowrap">spring </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:2711.51px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:3061.85px;white-space:nowrap">summer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:3761.89px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4046.08px;left:4402.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4296.08px;left:0px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4296.08px;left:450.44px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4296.08px;left:690.56px;white-space:nowrap">vaccines </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4296.08px;left:1440.88px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4296.08px;left:1881.04px;white-space:nowrap">progressively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4296.08px;left:2991.45px;white-space:nowrap">distributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4296.08px;left:3871.93px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4296.08px;left:4222.27px;white-space:nowrap">people </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:0px;white-space:nowrap">increasingly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:1000.46px;white-space:nowrap">reengaged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:1911.27px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:2281.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:2581.61px;white-space:nowrap">world.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:0px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:316.76px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:756.91px;white-space:nowrap">actively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:1407.13px;white-space:nowrap">constructive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:2417.52px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:2607.63px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:2757.74px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:3418.07px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4976.08px;left:3618.19px;white-space:nowrap">regions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:0px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:910.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:1210.96px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:1811.34px;white-space:nowrap">particularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:2731.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:2921.75px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:3422.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:3612.22px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5226.08px;left:4012.38px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:0px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:810.7px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:1010.83px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:1261.05px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:1461.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:1761.42px;white-space:nowrap">forefront </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:2481.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:2681.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:2982.13px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5476.08px;left:3512.55px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:0px;letter-spacing:-1.34px;white-space:nowrap">recovery. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:773.61px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:1133.79px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:1594.07px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:1964.18px;white-space:nowrap">focused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:2644.63px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:2894.85px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:3355.14px;white-space:nowrap">core </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5726.08px;left:3755.3px;white-space:nowrap">themes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:0px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:550.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:850.61px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:1680.82px;white-space:nowrap">period: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:2281.2px;white-space:nowrap">(1) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:2551.2px;white-space:nowrap">weakness </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:3401.63px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:3591.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:3891.97px;white-space:nowrap">euro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5976.08px;left:4302.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:0px;white-space:nowrap">USD, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:480.06px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:730.28px;white-space:nowrap">excessive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:1570.61px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:2030.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:2381.04px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:3181.38px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:3831.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6226.08px;left:4021.79px;white-space:nowrap">Europe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:350.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:650.57px;white-space:nowrap">U.S., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:1100.65px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:1731.09px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:2611.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:2801.51px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:3581.89px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6476.08px;left:3952px;white-space:nowrap">strong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6726.08px;left:0px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6726.08px;left:460.28px;white-space:nowrap">dynamics, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6726.08px;left:1320.56px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6726.08px;left:1930.78px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6726.08px;left:2611.23px;white-space:nowrap">surpluses, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6726.08px;left:3481.61px;white-space:nowrap">better </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6726.08px;left:3991.9px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6976.08px;left:0px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6976.08px;left:1100.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6976.08px;left:1450.99px;white-space:nowrap">stronger </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6976.08px;left:2161.32px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6976.08px;left:2751.59px;white-space:nowrap">potential, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6976.08px;left:3532.15px;white-space:nowrap">notably </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6976.08px;left:4162.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6976.08px;left:4342.76px;white-space:nowrap">Asia; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7226.08px;left:0px;white-space:nowrap">(2) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7226.08px;left:270px;white-space:nowrap">avoiding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7226.08px;left:990.53px;white-space:nowrap">interest-rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7226.08px;left:2000.92px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7226.08px;left:2420.86px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7226.08px;left:2610.97px;white-space:nowrap">low-yielding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7226.08px;left:3601.41px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7476.08px;left:0px;white-space:nowrap">markets; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7476.08px;left:740.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7476.08px;left:1090.46px;white-space:nowrap">(3) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7476.08px;left:1360.46px;white-space:nowrap">pursuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7476.08px;left:2100.94px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7476.08px;left:2931.42px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7476.08px;left:3471.86px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7476.08px;left:3841.96px;white-space:nowrap">relatively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:0px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:550.37px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:1060.58px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:1250.68px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:1400.8px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:1921.03px;white-space:nowrap">set </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:2211.15px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:2411.28px;white-space:nowrap">resilient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:3081.53px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7726.08px;left:3881.95px;white-space:nowrap">markets.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:220.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:520.31px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:1351.05px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:1551.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:1851.42px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:2451.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:2752.03px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:3212.31px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8156.08px;left:3602.64px;white-space:nowrap">overweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8406.08px;left:0px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8406.08px;left:760.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8406.08px;left:950.54px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8406.08px;left:1600.75px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8406.08px;left:2481.06px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8406.08px;left:2831.31px;white-space:nowrap">showed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8406.08px;left:3501.74px;white-space:nowrap">medium-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:480.32px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:1110.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:1411px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:1841.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:2191.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:2491.61px;white-space:nowrap">euro. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:2951.89px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:3268.65px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8656.08px;left:3658.97px;white-space:nowrap">notable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:0px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:880.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:1080.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:1380.85px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:2091.27px;white-space:nowrap">yuan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:2581.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:2881.85px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:3402.25px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:4032.69px;white-space:nowrap">won, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.08px;left:4462.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:540.44px;white-space:nowrap">rupee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:1050.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:1401.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:1701.39px;white-space:nowrap">Indonesian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:2632.15px;white-space:nowrap">rupiah </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:3182.52px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:3812.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9156.08px;left:4113.19px;white-space:nowrap">USD. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:0px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:316.76px;white-space:nowrap">added </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:867.3px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:1657.79px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:1857.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:2158.15px;white-space:nowrap">Singapore </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:3028.8px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:3519.05px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:3699.23px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:4109.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9406.08px;left:4459.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:0px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:410.1px;white-space:nowrap">Zealand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:1110.59px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:1600.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:1790.95px;white-space:nowrap">June. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:2281.29px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:2481.42px;white-space:nowrap">Europe, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:3161.87px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:3441.97px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:3832.29px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9656.08px;left:4712.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:300.23px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:1210.69px;white-space:nowrap">krone </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:1710.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:2061.3px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:2791.67px;white-space:nowrap">krona </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:3291.94px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:3922.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:4222.62px;white-space:nowrap">euro. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9906.08px;left:4682.9px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:290.3px;white-space:nowrap">Americas, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:1140.47px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:1420.58px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:1810.9px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:2201.22px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:2991.71px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:3191.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:3492.07px;white-space:nowrap">Canadian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10156.08px;left:4312.71px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:0px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:630.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:930.67px;white-space:nowrap">euro, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:1390.96px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:1741.29px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:2131.61px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:3012.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:3212.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10406.08px;left:3512.46px;white-space:nowrap">Colombian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:0px;white-space:nowrap">peso </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:440.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:790.66px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:1530.97px;white-space:nowrap">real </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:1881.12px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:2511.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:2811.8px;white-space:nowrap">USD. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:3291.86px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:3491.98px;letter-spacing:-2.67px;white-space:nowrap">May, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:3918.69px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10656.08px;left:4198.8px;white-space:nowrap">added </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:0px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:790.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:990.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:1290.85px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:1951.26px;white-space:nowrap">peso </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:2391.59px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:3022.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:3322.27px;white-space:nowrap">USD. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:3802.32px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10906.08px;left:4382.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:0px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:600.38px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:880.49px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:1320.82px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:2061.04px;white-space:nowrap">forwards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:2801.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:3151.58px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:3891.8px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11156.08px;left:4522.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11406.08px;left:0px;white-space:nowrap">actively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11406.08px;left:650.21px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11406.08px;left:1350.7px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11406.08px;left:2090.92px;white-space:nowrap">exposures.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11836.08px;left:0px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11836.08px;left:316.76px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11836.08px;left:696.97px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11836.08px;left:1527.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11836.08px;left:1727.75px;white-space:nowrap">focus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11836.08px;left:2207.99px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11836.08px;left:2458.21px;white-space:nowrap">compelling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11836.08px;left:3368.67px;white-space:nowrap">risk-adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12086.08px;left:0px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12086.08px;left:510.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12086.08px;left:700.31px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12086.08px;left:1330.58px;white-space:nowrap">local-currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12086.08px;left:2500.93px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12086.08px;left:2951.37px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12086.08px;left:3691.49px;text-rendering:optimizeLegibility;white-space:nowrap">specifically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12336.08px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12336.08px;left:190.11px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12336.08px;left:970.49px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12336.08px;left:1340.6px;white-space:nowrap">resilient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12336.08px;left:2010.85px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12336.08px;left:2931.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12336.08px;left:3281.66px;white-space:nowrap">strong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12336.08px;left:3831.94px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12586.08px;left:0px;white-space:nowrap">dynamics. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12586.08px;left:860.27px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12586.08px;left:1177.03px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12586.08px;left:2007.69px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12586.08px;left:2207.81px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12586.08px;left:2788.07px;white-space:nowrap">avoid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12586.08px;left:3268.39px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12586.08px;left:4149.14px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5920.49px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6800.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6991.08px;white-space:nowrap">preference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7901.63px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8161.7px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8712.07px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9222.28px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5410.11px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5930.33px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6730.75px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7470.88px;white-space:nowrap">notably </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8101.32px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8861.84px;white-space:nowrap">Indonesia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">India, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5710.34px;white-space:nowrap">Mexico, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6380.51px;white-space:nowrap">Colombia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7240.87px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7740.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8091.3px;white-space:nowrap">Ghana, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8731.76px;white-space:nowrap">among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9332.14px;white-space:nowrap">others. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5536.76px;white-space:nowrap">saw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5906.87px;white-space:nowrap">pockets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6577.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6777.33px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7257.66px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7447.76px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8038.04px;white-space:nowrap">USD-denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6050.48px;white-space:nowrap">credits, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6680.65px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7110.88px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7351px;letter-spacing:-1.1px;white-space:nowrap">Ecuador, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8111.51px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8411.75px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8691.86px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5420.13px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6000.38px;white-space:nowrap">prefer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6520.61px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7170.82px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8031.36px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8221.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8521.7px;white-space:nowrap">local-currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5910.12px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6310.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6610.52px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7070.63px;white-space:nowrap">fully </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7440.73px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8021.16px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8511.33px;white-space:nowrap">markets.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5800.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6100.49px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6700.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7001.1px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7588.13px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8318.67px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9049.22px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5590.11px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6320.13px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6670.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6870.59px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7610.8px;white-space:nowrap">positions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8421.24px;white-space:nowrap">Interest-rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6050.39px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6991px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7191.12px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7921.67px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8501.84px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8741.95px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:9032.17px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5710.17px;white-space:nowrap">exposures. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6630.73px;white-space:nowrap">Among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7251.06px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8181.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8481.62px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9068.64px;white-space:nowrap">net-positive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5890.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6080.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6380.77px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7211.43px;white-space:nowrap">yen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7551.65px;white-space:nowrap">detracted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8352.16px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8762.17px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6330.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6570.62px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6860.83px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7601.04px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8361.47px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8551.58px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8981.98px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9692.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5620.17px;white-space:nowrap">ex-Japan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6457.41px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6817.59px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7277.87px;white-space:nowrap">maintained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8208.46px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8358.57px;white-space:nowrap">defensive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9179.12px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6030.53px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6670.81px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7120.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7311.09px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8191.85px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8931.97px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9392.17px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5920.49px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6800.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6991.08px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7511.31px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8311.73px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9051.86px;white-space:nowrap">Select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5920.49px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6800.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6991.08px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7421.48px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8131.64px;white-space:nowrap">(Argentina) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9072.07px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9412.47px;white-space:nowrap">Africa </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">(Ghana) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5930.33px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6870.94px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7071.06px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7801.61px;white-space:nowrap">results.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5510.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5660.24px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6290.51px;white-space:nowrap">basis, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6810.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7110.97px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7697.99px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8758.48px;white-space:nowrap">fared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:9218.76px;white-space:nowrap">better </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5620.34px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5970.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6170.71px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6400.72px;white-space:nowrap">benchmark </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7341.15px;white-space:nowrap">index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7821.47px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8551.49px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8901.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9101.95px;white-space:nowrap">interest-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5220px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5580.18px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6410.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6760.9px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7591.38px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8081.54px;white-space:nowrap">exposures. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9012.04px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5220px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5980.43px;white-space:nowrap">detracted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6780.94px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7190.95px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7821.21px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8448.13px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8808.31px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5220px;white-space:nowrap">maintained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6150.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6300.7px;white-space:nowrap">defensive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7121.25px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7921.85px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8732.37px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9372.66px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5410.11px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6290.86px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7030.99px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7491.18px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8121.71px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8822.2px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:9702.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5220px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5740.22px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6540.64px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7280.77px;white-space:nowrap">Select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7831.05px;white-space:nowrap">underweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:9061.96px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5220px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:6100.49px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:6290.6px;white-space:nowrap">Europe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:6921.04px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:7861.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:8061.77px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:8692.03px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5460.12px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5750.33px;white-space:nowrap">underweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6981.24px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7681.73px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:8472.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:8662.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:8962.56px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5220px;white-space:nowrap">Select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5770.28px;white-space:nowrap">overweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6890.98px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7591.46px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8471.95px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8662.06px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:9092.46px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5220px;white-space:nowrap">(Argentina) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6160.43px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6500.83px;white-space:nowrap">Africa </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7010.95px;white-space:nowrap">(Ghana) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7721.28px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8101.49px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9042.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9242.23px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5220px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5840.24px;white-space:nowrap">Among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6460.58px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7390.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7691.13px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8278.15px;white-space:nowrap">overweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9398.85px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5409.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5709.76px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6540.13px;white-space:nowrap">yen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6880.06px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7430.14px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7869.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8069.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8369.7px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8919.78px;white-space:nowrap">detracted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9720px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5850.26px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6960.76px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7200.88px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7491.09px;white-space:nowrap">overweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8611.79px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:9352px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5410.11px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5840.51px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6550.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6891.06px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7291.23px;white-space:nowrap">ex-Japan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8131.73px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8932.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9232.29px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">underweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6450.91px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7241.4px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7441.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7741.76px;white-space:nowrap">euro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8152.03px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9092.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9292.76px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">results.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:5220px;white-space:nowrap">Thank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:5770.28px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:6110.51px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:6370.58px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:6770.74px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:7601.4px;white-space:nowrap">participation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:8621.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:8808.84px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:5220px;white-space:nowrap">Global </div><div style="font-family:Arial, 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sans-serif;font-size:180px;position:absolute;top:9518.64px;left:9118.48px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:9518.64px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:6140.39px;white-space:nowrap">needs.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:5220px;letter-spacing:-1.34px;white-space:nowrap">Sincerely,</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:5220px;white-space:nowrap">Michael </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:5890.25px;white-space:nowrap">Hasenstab, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:6850.81px;white-space:nowrap">Ph.D.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:5220px;white-space:nowrap">Lead </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:5670.44px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:6380.77px;white-space:nowrap">Manager</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11308.64px;left:5220px;white-space:nowrap">Calvin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11308.64px;left:5770.2px;white-space:nowrap">Ho</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11558.64px;left:5220px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, 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style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAVXCAYAAAD4bQlZAAAACXBIWXMAABcRAAAXEQHKJvM/AAAgAElEQVR4XuzWMQ0CAQAEwZeAFCTglpAgAmcPDvaKr8gU062APc7zPAAAAACukAEAAADA6ni+3g8A4G/dagYAAK50/AbkAwD8rXvNAADAlTIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAK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			<div style="width:10080px;height:12960px;position:absolute;top:7.26px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:360.18px;white-space:nowrap">foregoing </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:1160.77px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:2101.2px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:2731.38px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:3041.54px;white-space:nowrap">analysis, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:3791.87px;white-space:nowrap">opinions </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:350.33px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:1040.71px;white-space:nowrap">holdings </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:1761.24px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:2001.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:2201.48px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:2641.82px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:2942.05px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:3442.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:3742.73px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:4093.07px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:300.23px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:1060.66px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:1661.04px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:2021.22px;white-space:nowrap">way </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:2391.33px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:2671.44px;white-space:nowrap">implement </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:3551.75px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:3861.91px;white-space:nowrap">main </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:920.39px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:1750.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:2101.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:2401.35px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:3131.72px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:3822.1px;white-space:nowrap">holdings </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:390.06px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:1030.61px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:1921.46px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:2171.69px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:2761.88px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:3192.1px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:3432.22px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:978.64px;left:4032.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:820.37px;white-space:nowrap">conditions. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:1730.92px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:2281.2px;white-space:nowrap">opinions </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:3001.73px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:3391.79px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:3692.02px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:3942.25px;white-space:nowrap">relied </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1228.64px;left:4432.5px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:240.12px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:1160.51px;white-space:nowrap">advice </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:1730.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:1940.89px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:2191.11px;white-space:nowrap">offer </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:2601.3px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:2861.37px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:3011.48px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:3801.8px;letter-spacing:-1.34px;white-space:nowrap">security. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1478.64px;left:4508.61px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:0px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:940.43px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:1120.43px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:1420.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:1570.78px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:2351.16px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:3051.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:3251.6px;white-space:nowrap">every </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:3741.77px;white-space:nowrap">aspect </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:4322.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1728.64px;left:4522.24px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:0px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:650.13px;letter-spacing:-1.48px;white-space:nowrap">country, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:1327.06px;letter-spacing:-1.34px;white-space:nowrap">industry, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:2043.98px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:2714.15px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:2924.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:3224.44px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:3734.74px;white-space:nowrap">Statements </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:1978.64px;left:4695.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:0px;white-space:nowrap">fact </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:340.14px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:650.3px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:1060.31px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:1740.59px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:2671.17px;white-space:nowrap">reliable, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:3351.53px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:3651.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2228.64px;left:3952px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:0px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:760.43px;white-space:nowrap">makes </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:1340.6px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:1590.82px;white-space:nowrap">representation </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:2791.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:3001.64px;white-space:nowrap">warranty </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:3741.86px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:3981.97px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2478.64px;left:4182.1px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2728.64px;left:0px;white-space:nowrap">completeness </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2728.64px;left:1160.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2728.64px;left:1370.65px;letter-spacing:-1.34px;white-space:nowrap">accuracy. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2728.64px;left:2170.9px;white-space:nowrap">Although </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2728.64px;left:2931.5px;white-space:nowrap">historical </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2728.64px;left:3691.76px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:180px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:430.22px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:1290.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:1491.06px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:2001.36px;white-space:nowrap">results, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:2631.53px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:3121.88px;white-space:nowrap">insights </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:3782.2px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:4172.26px;white-space:nowrap">help </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:2978.64px;left:4562.58px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:3228.64px;left:0px;white-space:nowrap">understand </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:3228.64px;left:950.71px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:3228.64px;left:1260.88px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:3228.64px;left:2181.27px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:3228.64px;left:3281.92px;letter-spacing:-1.21px;white-space:nowrap">philosophy.</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;letter-spacing:-3.33px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:430.22px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:950.45px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1580.63px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2661.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2861.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3161.43px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3748.45px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4558.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4909.31px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5479.63px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5869.95px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6930.44px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7070.45px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7447.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7797.66px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8137.88px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9018.46px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9498.78px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">losses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:606.97px;letter-spacing:-3.33px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1037.2px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1647.42px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1897.65px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2197.88px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2738.06px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3078.28px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3548.5px;white-space:nowrap">charges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4238.88px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4629.2px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4829.33px;white-space:nowrap">inception </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5599.86px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5809.92px;white-space:nowrap">brokerage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6670.46px;white-space:nowrap">commissions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7760.65px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8150.98px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8401.2px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9281.69px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">purchases. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:927.25px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1287.42px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2347.91px;white-space:nowrap">table </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2788.24px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3228.57px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3528.81px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4068.98px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4409.21px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4889.44px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5239.69px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5389.8px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6390.44px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6910.75px;white-space:nowrap">pay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7250.98px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7501.2px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7961.48px;white-space:nowrap">dividends, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8822.02px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9392.34px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1060.49px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1200.5px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1577.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1787.43px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2127.66px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2808.02px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3288.34px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3538.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3838.8px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4219.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4419.14px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4879.42px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5516.46px;letter-spacing:-3.3px;white-space:nowrap">Your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5930.16px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6650.68px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7280.95px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7580.92px;white-space:nowrap">vary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7970.98px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8861.84px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9112.06px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:210.06px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:850.34px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1240.66px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1480.78px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2291.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2481.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2781.39px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3368.41px;white-space:nowrap">portfolio, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4108.8px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4839.35px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5099.41px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5900.01px;white-space:nowrap">expenses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6770.57px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7380.88px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7771.2px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8781.68px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9091.85px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9392.08px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:680.36px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1090.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1390.61px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1770.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1970.95px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2661.33px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:1560.63px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:1907.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:2196.54px;white-space:nowrap">06</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:2485.74px;white-space:nowrap">/3</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:2702.58px;white-space:nowrap">0</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:2847.18px;white-space:nowrap">/2</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:3064.01px;letter-spacing:-19.3px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:151.6px;position:absolute;top:1810.13px;left:3189.32px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:1080.44px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:1480.78px;white-space:nowrap">represent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:2291.22px;white-space:nowrap">past </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:2681.46px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:3791.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:4302.16px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:4742.49px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:5042.72px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:5903.44px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:6413.73px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:7043.91px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:7974.32px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:8494.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:8844.87px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:9565.22px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:299.97px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:1080.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:1430.77px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:1771px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:2161.05px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:2601.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:2751.5px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:3141.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:3351.88px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:3721.99px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:4202.31px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:4542.54px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:4862.64px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:5262.8px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:5903.09px;white-space:nowrap">Current </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:6553.3px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:7613.79px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:8003.85px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:8454.02px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:8864.03px;text-rendering:optimizeLegibility;white-space:nowrap">figures </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:9454.31px;white-space:nowrap">shown.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:4244.47px;white-space:nowrap">Cumulative </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:5151.34px;letter-spacing:-1.98px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:5566.11px;white-space:nowrap">Return</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2218.87px;left:6081.65px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:7384.55px;letter-spacing:-0.74px;white-space:nowrap">Average </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:8048.62px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:8635.26px;letter-spacing:-1.98px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:9050.02px;white-space:nowrap">Return</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2218.87px;left:9565.57px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:4468.84px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:4993.53px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:4811.18px;letter-spacing:-3.96px;white-space:nowrap">NAV</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2671.36px;left:5137.12px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:6052.84px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:6577.53px;white-space:nowrap">on</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:5769.48px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:6338.7px;white-space:nowrap">price</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2671.36px;left:6721.12px;white-space:nowrap">4</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:7780.84px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:8305.53px;white-space:nowrap">on</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:8123.18px;letter-spacing:-3.96px;white-space:nowrap">NAV</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2671.36px;left:8449.12px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:9364.84px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:9889.53px;white-space:nowrap">on</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:9081.48px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:9650.7px;white-space:nowrap">price</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2671.36px;left:10033.12px;white-space:nowrap">4</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:0px;white-space:nowrap">6-Month</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:4682.05px;white-space:nowrap">-2.01%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:6225.89px;white-space:nowrap">+4.76%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:7994.05px;white-space:nowrap">-2.01%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:9537.89px;white-space:nowrap">+4.76%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;left:0px;letter-spacing:-2.45px;white-space:nowrap">1-Year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;left:4682.05px;white-space:nowrap">-2.44%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;left:6225.89px;white-space:nowrap">+9.15%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;left:7994.05px;white-space:nowrap">-2.44%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;left:9537.89px;white-space:nowrap">+9.15%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;left:0px;letter-spacing:-2.45px;white-space:nowrap">5-Year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;left:4641.89px;white-space:nowrap">+2.63%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;left:6136.91px;white-space:nowrap">+13.83%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;left:7953.89px;white-space:nowrap">+0.52%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;left:9537.89px;white-space:nowrap">+2.62%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;left:0px;letter-spacing:-2.1px;white-space:nowrap">10-Year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;left:4552.91px;white-space:nowrap">+10.88%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;left:6225.89px;white-space:nowrap">+2.87%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;left:7953.89px;white-space:nowrap">+1.04%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;left:9537.89px;white-space:nowrap">+0.28%</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:5041.16px;left:0px;white-space:nowrap">Share </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:5041.16px;left:766.04px;white-space:nowrap">Prices</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5509.83px;left:0px;white-space:nowrap">Symbol: </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5509.83px;left:675.63px;white-space:nowrap">GIM</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5509.83px;left:6383.17px;white-space:nowrap">6/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5509.83px;left:7878.19px;white-space:nowrap">12/31/20</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5509.83px;left:9484.28px;white-space:nowrap">Change</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5846.77px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5846.77px;left:284.61px;white-space:nowrap">Asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5846.77px;left:729.22px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5846.77px;left:1171.02px;letter-spacing:-2.37px;white-space:nowrap">(NAV)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5846.77px;left:6516.61px;white-space:nowrap">$5.83</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5846.77px;left:8083.42px;letter-spacing:-2.37px;white-space:nowrap">$6.11</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5846.77px;left:9559.33px;white-space:nowrap">-$0.28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6077.25px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6077.25px;left:533.44px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6077.25px;left:942.42px;white-space:nowrap">(NYSE)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6077.25px;left:6516.61px;white-space:nowrap">$5.63</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6077.25px;left:8083.42px;white-space:nowrap">$5.50</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6077.25px;left:9519.17px;white-space:nowrap">+$0.13</div></div>
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			<div style="width:10085px;height:116px;position:absolute;top:4.05px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:-21.41px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:-21.41px;left:269.92px;white-space:nowrap">page </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:-21.41px;left:612.66px;white-space:nowrap">8 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:-21.41px;left:722.11px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:-21.41px;left:933.44px;white-space:nowrap">Performance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:-21.41px;left:1771.95px;white-space:nowrap">Summary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:-21.41px;left:2406.33px;white-space:nowrap">footnotes.</div></div>
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		<div style="height:50px;left:36px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:11px;white-space:nowrap">Performance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1200.8px;letter-spacing:9.64px;white-space:nowrap">Summary</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">8</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:80px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div></div>
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		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:0px;white-space:nowrap">All </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:204.14px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:1006.25px;white-space:nowrap">involve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:1494.92px;white-space:nowrap">risks, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:1874.3px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:2493.98px;white-space:nowrap">possible </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:3062.81px;white-space:nowrap">loss </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:3361.88px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:3522.19px;white-space:nowrap">principal. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:4142.03px;white-space:nowrap">Changes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:4732.58px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:4885.7px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:5396.09px;white-space:nowrap">rates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:5746.17px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:5994.22px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:6380.63px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:6613.91px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:6985.94px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:7146.25px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:7379.53px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:7841.33px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:8409.77px;white-space:nowrap">value, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:8818.28px;white-space:nowrap">share </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:9204.84px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1760.28px;left:9554.92px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:0px;white-space:nowrap">yield. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:372.03px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:743.67px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:1166.72px;white-space:nowrap">generally </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:1779.38px;white-space:nowrap">move </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:2158.59px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:2311.72px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:2545px;white-space:nowrap">opposite </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:3128.2px;white-space:nowrap">direction </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:3718.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:3879.06px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:4389.45px;white-space:nowrap">rates. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:4771.25px;white-space:nowrap">As </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:4975.39px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:5398.44px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:5558.75px;white-space:nowrap">bonds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:5988.83px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:6141.95px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:6375.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:6732.34px;white-space:nowrap">adjust </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:7155.23px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:7315.55px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:7425px;white-space:nowrap">rise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:7694.92px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:7848.05px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:8358.44px;white-space:nowrap">rates, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:8745px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:8978.28px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1940.28px;left:9440.08px;white-space:nowrap">share </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:0px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:350.08px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:649.14px;white-space:nowrap">decline. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:1174.3px;white-space:nowrap">Special </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:1670.31px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:2013.2px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:2246.64px;white-space:nowrap">associated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:2961.41px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:3260.31px;white-space:nowrap">foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:3741.41px;white-space:nowrap">investing, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:4390.39px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:5010.08px;white-space:nowrap">currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:5600.78px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuations, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:6417.27px;white-space:nowrap">economic </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:7066.25px;white-space:nowrap">instability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:7715.23px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:7985px;white-space:nowrap">political </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:8517.34px;white-space:nowrap">developments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:9436.09px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2120.28px;left:9596.41px;white-space:nowrap">coun-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:0px;white-space:nowrap">tries </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:313.59px;white-space:nowrap">where </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:729.3px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:962.58px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:1319.69px;white-space:nowrap">invests. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:1844.84px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:2646.95px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:2800.08px;white-space:nowrap">developing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:3529.22px;white-space:nowrap">markets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:4068.91px;white-space:nowrap">involve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:4557.58px;white-space:nowrap">heightened </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:5293.91px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:5636.8px;white-space:nowrap">related </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:6103.52px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:6263.83px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:6497.11px;white-space:nowrap">same </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:6869.14px;white-space:nowrap">factors, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:7379.53px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:7532.66px;white-space:nowrap">addition </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:8079.38px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:8239.69px;white-space:nowrap">those </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:8626.09px;white-space:nowrap">associated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:9340.86px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2300.28px;left:9639.77px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:0px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:605.47px;white-space:nowrap">small </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:977.5px;white-space:nowrap">size </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:1262.03px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:1531.8px;white-space:nowrap">lesser </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:1947.66px;letter-spacing:-0.87px;white-space:nowrap">liquidity. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:2514.06px;white-space:nowrap">Sovereign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:3184.92px;white-space:nowrap">debt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:3498.36px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:4147.5px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:4380.94px;white-space:nowrap">subject </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:4876.8px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:5037.11px;white-space:nowrap">various </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:5540.31px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:5883.2px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:6036.33px;white-space:nowrap">addition </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:6583.05px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:6743.36px;white-space:nowrap">those </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:7129.77px;white-space:nowrap">relating </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:7640.16px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:7800.47px;white-space:nowrap">debt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:8113.91px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:8763.05px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:9032.81px;white-space:nowrap">foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2480.28px;left:9513.91px;white-space:nowrap">securi-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:0px;white-space:nowrap">ties </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:262.58px;letter-spacing:-0.87px;white-space:nowrap">generally, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:902.11px;white-space:nowrap">including, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:1558.28px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:1798.75px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:2039.22px;white-space:nowrap">limited </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:2498.59px;white-space:nowrap">to, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:2695.39px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:2928.67px;white-space:nowrap">risk </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:3198.59px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:3475.55px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:3585px;white-space:nowrap">government </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:4372.34px;white-space:nowrap">entity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:4758.75px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:5057.81px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:5247.42px;white-space:nowrap">unwilling </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:5852.58px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:6020.23px;white-space:nowrap">unable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:6479.61px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:6639.92px;white-space:nowrap">pay </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:6902.5px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:7412.89px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:7682.66px;white-space:nowrap">repay </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:8069.22px;white-space:nowrap">principal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:8652.58px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:8849.38px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:9038.98px;white-space:nowrap">sovereign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2660.28px;left:9695.31px;white-space:nowrap">debt, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:167.66px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:816.64px;white-space:nowrap">meet </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:1159.38px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:1348.98px;white-space:nowrap">obligations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:2085.31px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:2457.19px;white-space:nowrap">due. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:2763.44px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:3033.2px;white-space:nowrap">markets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:3572.89px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:3784.22px;white-space:nowrap">particular </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:4418.59px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:5067.73px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:5235.39px;white-space:nowrap">types </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:5614.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:5774.92px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:6424.06px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:6657.5px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:6825.16px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:7124.22px;white-space:nowrap">become </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:7656.56px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:8262.03px;white-space:nowrap">illiquid. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:8757.89px;white-space:nowrap">Reduced </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2840.28px;left:9348.44px;white-space:nowrap">liquidity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:248.05px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:583.59px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:773.2px;white-space:nowrap">adverse </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:1305.7px;white-space:nowrap">impact </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:1765.08px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:1961.88px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:2195.16px;letter-spacing:-0.43px;white-space:nowrap">security&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:2839.53px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:3211.56px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:3481.33px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:3678.13px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:3911.41px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:4373.2px;white-space:nowrap">ability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:4788.91px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:4949.22px;white-space:nowrap">sell </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:5204.61px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:5547.34px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:6196.48px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:6568.36px;white-space:nowrap">necessary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:7246.8px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:7407.11px;white-space:nowrap">meet </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:7749.84px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:7983.13px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:8444.92px;white-space:nowrap">liquidity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:8984.45px;white-space:nowrap">needs </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:9400.16px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3020.28px;left:9567.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:0px;white-space:nowrap">response </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:619.84px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:780.16px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:889.61px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:1414.77px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:1881.48px;white-space:nowrap">event. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:2297.19px;white-space:nowrap">Derivatives, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:3070.31px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:3690px;white-space:nowrap">currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:4280.7px;white-space:nowrap">management </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:5126.48px;white-space:nowrap">strategies, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:5819.3px;white-space:nowrap">involve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:6307.97px;white-space:nowrap">costs </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:6687.19px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:6956.95px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:7219.53px;white-space:nowrap">create </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:7642.58px;white-space:nowrap">economic </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:8291.56px;white-space:nowrap">leverage </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:8860.55px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:9013.67px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:9246.95px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3200.28px;left:9815.39px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:299.06px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:692.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:845.94px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:1538.59px;white-space:nowrap">volatility </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:2107.42px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:2377.19px;white-space:nowrap">cause </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:2785.7px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:3018.98px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:3376.09px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:3536.41px;white-space:nowrap">participate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:4236.41px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:4389.53px;white-space:nowrap">losses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:4834.53px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:5031.33px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:5220.94px;white-space:nowrap">amount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:5731.17px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:6008.13px;white-space:nowrap">exceeds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:6562.58px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:6795.86px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:7257.66px;white-space:nowrap">initial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:7636.88px;white-space:nowrap">investment. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:8402.5px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:8672.27px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:9029.38px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:9328.44px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3380.28px;left:9568.91px;white-space:nowrap">achieve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:233.28px;white-space:nowrap">anticipated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:962.42px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:1501.95px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:1771.72px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:2070.78px;white-space:nowrap">realize </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:2515.78px;white-space:nowrap">losses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:2960.78px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:3332.66px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:3442.11px;white-space:nowrap">counterparty </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:4280.47px;white-space:nowrap">fails </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:4579.53px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:4739.84px;white-space:nowrap">perform </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:5271.95px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:5454.38px;white-space:nowrap">promised. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:6113.13px;white-space:nowrap">As </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:6317.27px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:6426.72px;text-rendering:optimizeLegibility;white-space:nowrap">nondiversified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:7360px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:8089.14px;letter-spacing:-1.07px;white-space:nowrap">company, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:8728.52px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:8961.8px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:9318.91px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3560.28px;left:9617.97px;white-space:nowrap">invest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:153.13px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:262.58px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:868.05px;white-space:nowrap">small </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:1240.08px;white-space:nowrap">number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:1757.66px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:1917.97px;white-space:nowrap">issuers </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:2413.98px;white-space:nowrap">and, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:2720.23px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:2902.66px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:3012.11px;white-space:nowrap">result, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:3442.34px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:3631.95px;white-space:nowrap">subject </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:4127.81px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:4288.13px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:4397.58px;white-space:nowrap">greater </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:4878.83px;white-space:nowrap">risk </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:5148.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:5309.06px;white-space:nowrap">loss </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:5608.13px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:5907.03px;white-space:nowrap">respect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:6410.23px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:6570.55px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:6760.16px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:7328.59px;white-space:nowrap">securities. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:8014.22px;white-space:nowrap">Events </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:8480.94px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:8823.67px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:9006.09px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:9239.38px;white-space:nowrap">spread </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3740.28px;left:9706.09px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:0px;white-space:nowrap">deadly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:452.19px;white-space:nowrap">diseases, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:1079.61px;white-space:nowrap">disasters, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:1728.75px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:1998.52px;text-rendering:optimizeLegibility;white-space:nowrap">financial, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:2603.83px;white-space:nowrap">political </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:3136.17px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:3303.83px;white-space:nowrap">social </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:3712.34px;white-space:nowrap">disruptions, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:4499.69px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:4798.75px;white-space:nowrap">heighten </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:5381.95px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:5724.84px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:5994.61px;white-space:nowrap">adversely </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:6636.56px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:7022.97px;white-space:nowrap">performance. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:7890.63px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:8160.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:8517.5px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:8663.44px;white-space:nowrap">actively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:9181.41px;white-space:nowrap">managed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3920.28px;left:9793.91px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:0px;white-space:nowrap">there </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:357.27px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:503.2px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:700px;white-space:nowrap">guarantee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:1363.52px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:1640.47px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:1873.75px;white-space:nowrap">manager&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:2566.56px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:3295.7px;white-space:nowrap">decisions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:3937.5px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:4185.55px;white-space:nowrap">produce </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:4739.61px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:4972.89px;white-space:nowrap">desired </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4100.28px;left:5476.09px;white-space:nowrap">results.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:269.77px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:626.88px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:925.94px;white-space:nowrap">invest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:1341.64px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:1494.77px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:1895.7px;white-space:nowrap">Interbank </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:2522.73px;white-space:nowrap">bonds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:2952.81px;white-space:nowrap">traded </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:3390.23px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:3587.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:3820.31px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:4221.25px;white-space:nowrap">Interbank </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:4848.28px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:5219.92px;white-space:nowrap">Market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:5679.3px;white-space:nowrap">(&#8220;CIBM&#8221;) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:6269.53px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:6801.48px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:7034.77px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:7435.7px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:7545.16px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:7916.8px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:8288.44px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:8660.08px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4460.28px;left:9221.33px;white-space:nowrap">program </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:0px;white-space:nowrap">(&#8220;Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:480.94px;white-space:nowrap">Connect&#8221;). </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:1187.97px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:1341.09px;white-space:nowrap">China, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:1778.52px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:2011.8px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:2383.44px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:2755.08px;white-space:nowrap">Monetary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:3370px;white-space:nowrap">Authority </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:3989.45px;white-space:nowrap">Central </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:4477.89px;white-space:nowrap">Money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:4929.92px;white-space:nowrap">Markets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:5462.27px;white-space:nowrap">Unit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:5753.75px;white-space:nowrap">holds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:6140.16px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:6511.8px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:7073.05px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:7722.19px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:7918.98px;white-space:nowrap">behalf </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:8341.88px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:8502.19px;white-space:nowrap">ultimate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:9041.72px;white-space:nowrap">investors </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4640.28px;left:9661.56px;white-space:nowrap">(such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:182.42px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:415.7px;white-space:nowrap">Fund) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:816.48px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:969.61px;white-space:nowrap">accounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:1582.11px;white-space:nowrap">maintained </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:2311.25px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:2610.16px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:2719.61px;white-space:nowrap">China-based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:3543.44px;white-space:nowrap">custodian </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:4199.61px;white-space:nowrap">(either </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:4637.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:4870.31px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:5271.25px;white-space:nowrap">Central </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:5759.69px;white-space:nowrap">Depository </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:6481.41px;white-space:nowrap">&amp; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:6612.58px;white-space:nowrap">Clearing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:7173.98px;white-space:nowrap">Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:7421.8px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:7589.45px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:7822.73px;white-space:nowrap">Shanghai </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:8449.77px;white-space:nowrap">Clearing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:9011.17px;white-space:nowrap">House). </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4820.28px;left:9528.75px;white-space:nowrap">This </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:0px;white-space:nowrap">re-cordkeeping </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:984.3px;white-space:nowrap">system </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:1472.97px;white-space:nowrap">subjects </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:2041.8px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:2275.08px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:2632.19px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:2792.5px;white-space:nowrap">various </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:3295.7px;white-space:nowrap">risks, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:3675.08px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:4294.77px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:4528.05px;white-space:nowrap">risk </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:4797.97px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:5074.92px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:5308.2px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:5665.31px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:5964.38px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:6299.92px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:6409.38px;white-space:nowrap">limited </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:6868.75px;white-space:nowrap">ability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:7284.45px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:7444.77px;white-space:nowrap">enforce </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:7955.16px;white-space:nowrap">rights </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:8356.09px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:8538.52px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:8647.97px;white-space:nowrap">bondholder </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:9406.02px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5000.28px;left:9675.78px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:0px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:342.89px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:503.2px;white-space:nowrap">settlement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:1195.86px;white-space:nowrap">delays </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:1640.86px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:1910.63px;white-space:nowrap">counterparty </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:2748.98px;white-space:nowrap">default </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:3215.55px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:3375.86px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:3609.14px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:3980.78px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:4352.42px;white-space:nowrap">sub-custodian. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:5322.03px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:5475.16px;white-space:nowrap">addition, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:6058.36px;white-space:nowrap">enforcing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:6692.58px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:6925.86px;white-space:nowrap">ownership </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:7618.52px;white-space:nowrap">rights </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:8019.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:8179.77px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:8289.22px;text-rendering:optimizeLegibility;white-space:nowrap">beneficial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:8931.02px;white-space:nowrap">holder </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:9368.44px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5180.28px;left:9528.75px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:0px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:561.25px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:1210.39px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:1356.33px;white-space:nowrap">untested </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:1939.53px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:2209.3px;white-space:nowrap">courts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:2646.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:2799.84px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:3200.78px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:3536.33px;white-space:nowrap">limited </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:3995.7px;white-space:nowrap">experience </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:4717.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:4870.94px;white-space:nowrap">applying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:5446.95px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:5680.23px;white-space:nowrap">concept </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:6219.77px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:6380.08px;text-rendering:optimizeLegibility;white-space:nowrap">beneficial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:7021.88px;white-space:nowrap">ownership. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:7751.02px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:8122.66px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:8683.91px;white-space:nowrap">uses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:9019.45px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:9252.73px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5360.28px;left:9733.83px;white-space:nowrap">infra-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:0px;white-space:nowrap">structure </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:605.08px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:765.39px;white-space:nowrap">both </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:1086.02px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:1457.66px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:1829.3px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:2099.06px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:2500px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:2769.77px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:2915.7px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:3156.17px;white-space:nowrap">available </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:3747.11px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:3943.91px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:4425px;white-space:nowrap">holidays </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:4993.83px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:5146.95px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:5518.59px;white-space:nowrap">Kong. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:5921.95px;white-space:nowrap">As </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:6126.09px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:6235.55px;white-space:nowrap">result, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:6665.78px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:7088.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:7249.14px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:7898.28px;white-space:nowrap">purchased </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:8598.28px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:9130.23px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5540.28px;left:9501.88px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:299.06px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:882.27px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:1035.39px;white-space:nowrap">times </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:1414.61px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:1786.48px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:1895.94px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:2253.05px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:2398.98px;white-space:nowrap">unable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:2858.36px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:3018.67px;white-space:nowrap">add </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:3288.44px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:3448.75px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:3616.41px;white-space:nowrap">exit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:3878.98px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:4068.59px;white-space:nowrap">position. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:4651.8px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:5315.47px;white-space:nowrap">offered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:5796.56px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:6328.52px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:6700.16px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:7261.41px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:7560.47px;white-space:nowrap">lose </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:7859.53px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:8180.31px;white-space:nowrap">eligibility </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:8785.63px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:8996.95px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5720.28px;left:9478.05px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:233.28px;white-space:nowrap">program </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:801.88px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:955px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:1217.58px;white-space:nowrap">time. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:1560.31px;white-space:nowrap">If </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:1676.95px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:2048.59px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:2609.84px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:3258.98px;white-space:nowrap">lose </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:3558.05px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:3878.83px;white-space:nowrap">eligibility </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:4484.14px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:4695.47px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:5176.56px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:5708.52px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:5941.8px;white-space:nowrap">program, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:6546.88px;white-space:nowrap">they </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:6853.13px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:7152.19px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:7341.8px;white-space:nowrap">sold </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:7648.05px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:7888.52px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:8151.09px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:8347.89px;white-space:nowrap">longer </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:8785.31px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5900.28px;left:8974.92px;white-space:nowrap">purchased </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6080.28px;left:0px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6080.28px;left:531.95px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6080.28px;left:903.59px;white-space:nowrap">Connect.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:0px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:371.64px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:932.89px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:1078.83px;white-space:nowrap">subject </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:1574.69px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:1735px;white-space:nowrap">regulation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:2405.7px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:2595.31px;white-space:nowrap">both </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:2915.94px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:3287.58px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:3659.22px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:3928.98px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:4329.92px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:4599.69px;white-space:nowrap">there </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:4956.95px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:5219.53px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:5409.14px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:5605.94px;white-space:nowrap">assurance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:6291.56px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:6568.52px;white-space:nowrap">further </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:7027.66px;white-space:nowrap">regulations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:7771.33px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:8019.38px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:8259.84px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:8646.25px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:8879.53px;white-space:nowrap">availability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:9587.11px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6440.28px;left:9747.42px;white-space:nowrap">se-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:0px;white-space:nowrap">curities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:503.2px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:656.33px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:889.61px;white-space:nowrap">program, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:1494.69px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:1727.97px;white-space:nowrap">frequency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:2391.48px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:2551.8px;white-space:nowrap">redemptions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:3375.63px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:3543.28px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:3907.73px;white-space:nowrap">limitations. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:4636.88px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:5008.52px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:5569.77px;white-space:nowrap">trades </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:6000px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:6233.44px;white-space:nowrap">settled </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:6692.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:6845.94px;white-space:nowrap">Chinese </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:7392.81px;letter-spacing:-0.96px;white-space:nowrap">currency, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:8010.39px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:8243.67px;white-space:nowrap">renminbi </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:8834.22px;white-space:nowrap">(&#8220;RMB&#8221;). </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:9424.45px;white-space:nowrap">It </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6620.28px;left:9541.09px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:0px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:189.61px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:933.28px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:1210.23px;white-space:nowrap">investors </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:1830.08px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:2078.13px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:2413.67px;white-space:nowrap">timely </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:2829.38px;white-space:nowrap">access </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:3303.67px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:3463.98px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:3573.44px;white-space:nowrap">reliable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:4069.45px;white-space:nowrap">supply </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:4528.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:4689.14px;white-space:nowrap">RMB </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:5024.3px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:5177.42px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:5549.06px;white-space:nowrap">Kong. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:5957.19px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:6328.83px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:6890.08px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:7036.02px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:7641.48px;white-space:nowrap">new </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:7933.2px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:8202.97px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:8392.58px;white-space:nowrap">effects </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:8851.95px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:9048.75px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6800.28px;left:9282.03px;white-space:nowrap">Chinese </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:0px;white-space:nowrap">interbank </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:627.03px;white-space:nowrap">bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:984.14px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:1450.86px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:1684.3px;white-space:nowrap">uncertain. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:2347.81px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:2500.94px;white-space:nowrap">addition, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:3084.14px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:3317.42px;white-space:nowrap">trading, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:3835px;white-space:nowrap">settlement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:4527.66px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:4797.42px;white-space:nowrap">IT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:4950.55px;white-space:nowrap">systems </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:5512.19px;white-space:nowrap">required </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:6073.59px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:6284.92px;white-space:nowrap">non-Chinese </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:7115.94px;white-space:nowrap">investors </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:7735.78px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:7888.91px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:8260.55px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:8821.8px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:9055.23px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6980.28px;left:9660.7px;letter-spacing:-0.95px;white-space:nowrap">new. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:153.13px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:386.41px;white-space:nowrap">event </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:765.63px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:925.94px;white-space:nowrap">systems </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:1487.58px;white-space:nowrap">malfunctions, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:2377.03px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:2858.13px;white-space:nowrap">via 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style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:5409.77px;white-space:nowrap">addition, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:5992.97px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:6226.25px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:6597.89px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:7159.14px;white-space:nowrap">program </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:7727.73px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:8026.8px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:8216.41px;white-space:nowrap">subject </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:8712.27px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:8872.58px;white-space:nowrap">further </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7160.28px;left:9331.72px;white-space:nowrap">interpre-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:0px;white-space:nowrap">tation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:393.59px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:663.36px;white-space:nowrap">guidance. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:1312.34px;white-space:nowrap">There </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:1706.09px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:1968.67px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:2158.28px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:2355.08px;white-space:nowrap">assurance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:3040.7px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:3223.13px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:3383.44px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:3616.72px;letter-spacing:-0.48px;white-space:nowrap">program&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:4290px;white-space:nowrap">continued </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:4953.36px;white-space:nowrap">existence </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:5587.97px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:5755.63px;white-space:nowrap">whether </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:6295.16px;white-space:nowrap">future </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:6703.28px;white-space:nowrap">developments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:7622.03px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:8263.59px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:8496.88px;white-space:nowrap">program </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:9065.47px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:9364.53px;white-space:nowrap">restrict </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7340.28px;left:9845.78px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:0px;white-space:nowrap">adversely </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:641.95px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:1028.36px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:1261.64px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:1723.44px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:2525.55px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:2693.2px;white-space:nowrap">returns. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:3218.13px;letter-spacing:-1.07px;white-space:nowrap">Finally, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:3697.19px;white-space:nowrap">uncertainties </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:4550.31px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:4703.44px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:5104.38px;white-space:nowrap">tax </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:5330.47px;white-space:nowrap">rules </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:5680.55px;white-space:nowrap">governing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:6351.25px;white-space:nowrap">taxation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:6890.78px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:7051.09px;white-space:nowrap">income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:7546.95px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:7816.72px;white-space:nowrap">gains </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:8195.94px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:8523.91px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:9326.02px;white-space:nowrap">via </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7520.28px;left:9544.92px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:0px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:561.25px;white-space:nowrap">could </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:947.66px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:1341.41px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:1494.53px;white-space:nowrap">unexpected </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:2260.16px;white-space:nowrap">tax </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:2486.25px;white-space:nowrap">liabilities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:3084.38px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:3295.7px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7700.28px;left:3405.16px;white-space:nowrap">Fund.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:269.77px;white-space:nowrap">application </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:998.91px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:1268.67px;white-space:nowrap">interpretation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:2150.7px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:2311.02px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:2544.3px;white-space:nowrap">laws </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:2865.31px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:3135.08px;white-space:nowrap">regulations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:3878.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:4039.06px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:4410.7px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:4782.34px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:5052.11px;white-space:nowrap">China, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:5489.53px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:5759.3px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:5992.58px;white-space:nowrap">rules, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:6379.14px;white-space:nowrap">policies </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:6904.3px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:7071.95px;white-space:nowrap">guidelines </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:7757.42px;white-space:nowrap">published </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:8413.59px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:8581.25px;white-space:nowrap">applied </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:9077.11px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8060.28px;left:9266.72px;white-space:nowrap">relevant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:0px;white-space:nowrap">regulators </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:678.05px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:947.81px;white-space:nowrap">exchanges </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:1662.58px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:1815.7px;white-space:nowrap">respect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:2318.91px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:2479.22px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:2712.5px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:3084.14px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:3645.39px;white-space:nowrap">program, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:4250.47px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:4483.91px;white-space:nowrap">uncertain, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:5147.42px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:5417.19px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:5716.25px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:6051.8px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:6161.25px;white-space:nowrap">detrimental </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:6904.92px;white-space:nowrap">effect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:7291.33px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:7488.13px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:7721.41px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:8183.2px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:8985.31px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8240.28px;left:9255.08px;white-space:nowrap">returns.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:143.67px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:406.25px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:741.8px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:989.84px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:1099.3px;white-space:nowrap">fee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:1318.2px;white-space:nowrap">waiver </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:1733.75px;white-space:nowrap">associated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:2397.58px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:2667.34px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:2915.39px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:3586.41px;white-space:nowrap">it </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:3688.52px;white-space:nowrap">makes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:4111.48px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:4250.08px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:4359.53px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:4860.39px;letter-spacing:-1.45px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:5502.27px;white-space:nowrap">money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:5932.58px;white-space:nowrap">fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:6224.45px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:6632.97px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:6968.52px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:7469.38px;letter-spacing:-1.45px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:8111.25px;white-space:nowrap">fund, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:8439.61px;white-space:nowrap">contractually </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8600.28px;left:9212.73px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:0px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:481.48px;white-space:nowrap">2/28/22. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:992.27px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:1327.81px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:1998.83px;white-space:nowrap">results </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:2421.8px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:2815.63px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:3034.53px;white-space:nowrap">fee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:3253.44px;white-space:nowrap">waiver; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:3705.47px;white-space:nowrap">without </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:4157.66px;white-space:nowrap">this </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:4398.36px;letter-spacing:-0.9px;white-space:nowrap">waiver, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:4843.2px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:5062.11px;white-space:nowrap">results </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:5485.08px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:5864.3px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:6185.31px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8780.28px;left:6513.67px;letter-spacing:-1.2px;white-space:nowrap">lower.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:0px;white-space:nowrap">2. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:143.67px;letter-spacing:-2.42px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:457.34px;white-space:nowrap">return </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:836.56px;white-space:nowrap">calculations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:1558.67px;white-space:nowrap">represent </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:2149.45px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:2368.36px;white-space:nowrap">cumulative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:3032.03px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:3287.42px;white-space:nowrap">average </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:3798.05px;white-space:nowrap">annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:4228.52px;white-space:nowrap">changes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:4761.09px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:4899.69px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:5249.84px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:5395.78px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:5578.2px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:6249.22px;white-space:nowrap">over </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:6540.94px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:6759.84px;white-space:nowrap">periods </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:7226.64px;white-space:nowrap">indicated. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:7824.84px;white-space:nowrap">Return </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:8255.08px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:8444.69px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:8714.53px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:9006.41px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:9261.8px;letter-spacing:-1.2px;white-space:nowrap">year, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:9582.81px;white-space:nowrap">if </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8989.08px;left:9684.92px;letter-spacing:-1.92px;white-space:nowrap">any, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9169.08px;left:0px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9169.08px;left:248.05px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9169.08px;left:466.95px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9169.08px;left:795.31px;white-space:nowrap">annualized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:0px;white-space:nowrap">3. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:138.75px;white-space:nowrap">Assumes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:714.84px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:1502.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:1648.44px;white-space:nowrap">distributions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:2385.08px;white-space:nowrap">based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:2779.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:2961.48px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:3180.39px;white-space:nowrap">asset </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9377.88px;left:3530.55px;white-space:nowrap">value.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:0px;white-space:nowrap">4. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:138.75px;white-space:nowrap">Assumes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:714.84px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:1502.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:1648.44px;white-space:nowrap">distributions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:2385.08px;white-space:nowrap">based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:2779.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:2961.48px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:3180.39px;white-space:nowrap">dividend </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:3705.63px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:4493.28px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:4748.67px;white-space:nowrap">cash </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:5062.34px;white-space:nowrap">purchase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9586.68px;left:5638.59px;white-space:nowrap">plan.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:41.15px;left:0px;white-space:nowrap">Distributions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:125.82px;left:1474.96px;white-space:nowrap">(1/1/21&#8211;6/30/21)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:531.76px;left:8933.05px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:531.76px;left:9235.31px;white-space:nowrap">Investment</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:723.76px;left:9519.84px;white-space:nowrap">Income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1060.7px;left:9501.64px;white-space:nowrap">$0.1575</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="width:10080px;height:12269px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">























































































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:629.02px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:2165.32px;white-space:nowrap">Six </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:2449.93px;white-space:nowrap">Months </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:2138.6px;white-space:nowrap">Ended </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:2671.96px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:2280.59px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:2547.47px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:2156.53px;white-space:nowrap">(unaudited)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:4493.72px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:4876.3px;white-space:nowrap">Ended </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5409.66px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6227.86px;white-space:nowrap">31,</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:8148.09px;white-space:nowrap">2016</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:632.23px;left:8504.03px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9068.26px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9450.84px;white-space:nowrap">Ended </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:9095.05px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:9690.52px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:9326.03px;white-space:nowrap">2016</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:3566.03px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:4718.03px;white-space:nowrap">2019</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:5870.03px;white-space:nowrap">2018</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:7022.03px;white-space:nowrap">2017</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:941.96px;left:0px;white-space:nowrap">Per </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:941.96px;left:302.42px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:941.96px;left:773.83px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1133.96px;left:144px;white-space:nowrap">performance</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:0px;white-space:nowrap">(for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:284.45px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:417.89px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:862.58px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1528.44px;left:144px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1528.44px;left:953.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1528.44px;left:1220.41px;white-space:nowrap">period)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:293.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:720.31px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:1191.72px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:177.89px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:653.89px;letter-spacing:49.34px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:2779.48px;letter-spacing:-2.37px;white-space:nowrap">$6.11</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:3919.61px;white-space:nowrap">$6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:5071.61px;white-space:nowrap">$7.04</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:6223.61px;white-space:nowrap">$7.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:7375.61px;white-space:nowrap">$7.34</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:8527.61px;white-space:nowrap">$7.09</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.92px;left:9679.61px;white-space:nowrap">$7.38</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.41px;left:0px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.41px;left:569.14px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.41px;left:933.59px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2317.41px;left:144px;white-space:nowrap">operations:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:437.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:1255.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2523.1px;left:1771.34px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:1868.26px;letter-spacing:54.32px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:2868.47px;letter-spacing:-2.97px;white-space:nowrap">0.11</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:4008.59px;white-space:nowrap">0.21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:5160.59px;white-space:nowrap">0.38</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:6312.59px;white-space:nowrap">0.37</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:7464.59px;white-space:nowrap">0.36</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:8616.59px;white-space:nowrap">0.10</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2519.89px;left:9768.59px;white-space:nowrap">0.31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2722.38px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2722.38px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2722.38px;left:1042.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:144px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:926.73px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:1353.69px;white-space:nowrap">(losses)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:2750.03px;white-space:nowrap">(0.23)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:3902.03px;white-space:nowrap">(0.63)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:5054.03px;white-space:nowrap">(0.26)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:6206.03px;white-space:nowrap">(0.23)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:7358.03px;white-space:nowrap">(0.16)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:8616.59px;white-space:nowrap">0.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2914.38px;left:9662.03px;white-space:nowrap">(0.30)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3145.86px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3145.86px;left:382.42px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3145.86px;left:746.88px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:0px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:747.3px;letter-spacing:49.37px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:2750.03px;white-space:nowrap">(0.12)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:3902.03px;white-space:nowrap">(0.42)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:5160.59px;white-space:nowrap">0.12</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:6312.59px;white-space:nowrap">0.14</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:7464.59px;white-space:nowrap">0.20</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:8616.59px;white-space:nowrap">0.35</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3337.86px;left:9768.59px;white-space:nowrap">0.01</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3569.35px;left:0px;white-space:nowrap">Less </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3569.35px;left:382.42px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3569.35px;left:1280.63px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3771.83px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3771.83px;left:437.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3771.83px;left:1255.56px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3963.83px;left:144px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3963.83px;left:455.41px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3963.83px;left:722.28px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3963.83px;left:1255.95px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:144px;white-space:nowrap">gains</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:560.48px;letter-spacing:49.32px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:2750.03px;white-space:nowrap">(0.16)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:3902.03px;white-space:nowrap">(0.03)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:5054.03px;white-space:nowrap">(0.41)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:6206.03px;white-space:nowrap">(0.26)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:7358.03px;white-space:nowrap">(0.29)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:8768px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4155.83px;left:9673.91px;letter-spacing:-1.98px;white-space:nowrap">(0.11)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:1042.2px;white-space:nowrap">gains</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:1494.61px;letter-spacing:50.03px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:3008px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:4160px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:5312px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:6464px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:7616px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:8768px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4358.32px;left:9662.03px;white-space:nowrap">(0.02)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:144px;letter-spacing:-4.43px;white-space:nowrap">Tax </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:437.44px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:899.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:1077.75px;white-space:nowrap">capital</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:1588.02px;letter-spacing:50.3px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:3008px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:3902.03px;white-space:nowrap">(0.19)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:5312px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:6206.03px;white-space:nowrap">(0.09)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:7616px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:8510.03px;white-space:nowrap">(0.10)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4560.8px;left:9662.03px;white-space:nowrap">(0.17)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:382.42px;white-space:nowrap">distributions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:1307.78px;letter-spacing:49.73px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:2750.03px;white-space:nowrap">(0.16)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:3902.03px;white-space:nowrap">(0.22)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:5054.03px;white-space:nowrap">(0.41)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:6206.03px;white-space:nowrap">(0.35)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:7358.03px;white-space:nowrap">(0.29)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:8510.03px;white-space:nowrap">(0.10)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4792.28px;left:9662.03px;white-space:nowrap">(0.30)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5052.77px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5052.77px;left:293.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5052.77px;left:720.31px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5052.77px;left:1191.72px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5052.77px;left:1503.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:0px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:467.07px;letter-spacing:49.3px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:2767.61px;white-space:nowrap">$5.83</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:3931.48px;letter-spacing:-2.37px;white-space:nowrap">$6.11</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:5071.61px;white-space:nowrap">$6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:6223.61px;white-space:nowrap">$7.04</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:7375.61px;white-space:nowrap">$7.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:8527.61px;white-space:nowrap">$7.34</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5244.77px;left:9679.61px;white-space:nowrap">$7.09</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:533.44px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:1004.84px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:1316.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:1494.14px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5508.46px;left:1938.91px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:2767.61px;white-space:nowrap">$5.63</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:3919.61px;white-space:nowrap">$5.50</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:5071.61px;white-space:nowrap">$6.13</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:6223.61px;white-space:nowrap">$6.03</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:7375.61px;white-space:nowrap">$6.46</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:8527.61px;white-space:nowrap">$6.48</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5505.25px;left:9679.61px;white-space:nowrap">$6.43</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5824.19px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5824.19px;left:382.42px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5824.19px;left:844.84px;white-space:nowrap">(based </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5824.19px;left:1378.52px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:533.44px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:960.39px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:1236.09px;white-space:nowrap">share)</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6019.4px;left:1689.61px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:1774.85px;letter-spacing:51.64px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:2714.33px;white-space:nowrap">4.76%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:3759.77px;white-space:nowrap">(6.63)%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:5018.33px;white-space:nowrap">8.52%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:6063.77px;white-space:nowrap">(1.24)%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:7322.33px;white-space:nowrap">4.10%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:8474.33px;white-space:nowrap">2.38%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.19px;left:9626.33px;white-space:nowrap">8.35%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6306.13px;left:0px;white-space:nowrap">Ratios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6306.13px;left:533.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6306.13px;left:728.91px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6306.13px;left:1378.28px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6498.13px;left:144px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:6501.34px;left:642.2px;white-space:nowrap">e</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6700.62px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6700.62px;left:746.11px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6700.62px;left:1243.24px;white-space:nowrap">waiver </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6700.62px;left:1749.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6892.62px;left:0px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6892.62px;left:738.13px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6892.62px;left:951.56px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6892.62px;left:1582.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:0px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:649.38px;white-space:nowrap">reduction</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:1307.78px;letter-spacing:49.73px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:2714.33px;white-space:nowrap">1.02%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:3866.33px;white-space:nowrap">0.75%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:5018.33px;white-space:nowrap">0.75%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:6170.33px;white-space:nowrap">0.79%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:7322.33px;white-space:nowrap">0.76%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:8474.33px;white-space:nowrap">0.73%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7084.62px;left:9626.33px;white-space:nowrap">0.76%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7287.1px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7287.1px;left:747.11px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7287.1px;left:1013.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7287.1px;left:1191.88px;white-space:nowrap">waiver </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7287.1px;left:1698.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:0px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:738.13px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:951.56px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:1588.02px;letter-spacing:50.3px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:2714.33px;white-space:nowrap">1.01%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:3866.33px;white-space:nowrap">0.71%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:5018.33px;white-space:nowrap">0.67%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:6170.33px;white-space:nowrap">0.71%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:7322.33px;white-space:nowrap">0.70%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:8474.33px;white-space:nowrap">0.69%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7479.1px;left:9626.33px;white-space:nowrap">0.73%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.59px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.59px;left:747.11px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.59px;left:1013.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.59px;left:1191.88px;white-space:nowrap">waiver </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.59px;left:1698.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7873.59px;left:0px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7873.59px;left:738.13px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7873.59px;left:951.56px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7873.59px;left:1582.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:0px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:649.38px;white-space:nowrap">reduction</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:1307.78px;letter-spacing:49.73px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:2714.33px;white-space:nowrap">1.01%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:3866.33px;white-space:nowrap">0.71%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:5018.33px;white-space:nowrap">0.67%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:6144.41px;white-space:nowrap">0.71%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8068.8px;left:6598.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:7322.33px;white-space:nowrap">0.69%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:8474.33px;white-space:nowrap">0.68%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8065.59px;left:9600.41px;white-space:nowrap">0.73%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8068.8px;left:10054.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:293.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:1111.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:1681.44px;letter-spacing:50.75px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:2714.33px;white-space:nowrap">3.73%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:3866.33px;white-space:nowrap">3.36%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:5018.33px;white-space:nowrap">5.49%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:6170.33px;white-space:nowrap">5.18%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:7322.33px;white-space:nowrap">4.84%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:8474.33px;white-space:nowrap">4.31%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8268.07px;left:9626.33px;white-space:nowrap">4.38%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8558.01px;left:0px;white-space:nowrap">Supplemental </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8558.01px;left:1093.52px;white-space:nowrap">data</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8760.5px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8760.5px;left:293.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8760.5px;left:844.77px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8760.5px;left:1156.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8760.5px;left:1334.06px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:0px;letter-spacing:-0.41px;white-space:nowrap">(000&#8217;s)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:560.48px;letter-spacing:49.32px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:2500.66px;white-space:nowrap">$782,017</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:3652.66px;white-space:nowrap">$819,181</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:4804.66px;white-space:nowrap">$905,378</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:5956.66px;white-space:nowrap">$944,988</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:7108.66px;white-space:nowrap">$972,791</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:8260.66px;white-space:nowrap">$984,355</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8952.5px;left:9412.66px;white-space:nowrap">$951,191</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:631.41px;white-space:nowrap">turnover </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:1262.81px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:1588.02px;letter-spacing:50.3px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:2625.34px;white-space:nowrap">51.37%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:3777.34px;white-space:nowrap">42.51%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:4929.34px;white-space:nowrap">21.99%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:6081.34px;white-space:nowrap">35.47%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:7233.34px;white-space:nowrap">42.34%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:8385.34px;white-space:nowrap">25.94%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9154.98px;left:9537.34px;white-space:nowrap">46.03%</div></div>
		</div>
		<div style="height:68px;left:54px;position:absolute;top:657px;width:503px">
			<div style="width:10080px;height:1260px;position:absolute;top:1.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">






			<div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:22.81px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:42.54px;white-space:nowrap">For</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:275.82px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:494.73px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:895.9px;white-space:nowrap">September </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1574.18px;white-space:nowrap">1, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1720.12px;white-space:nowrap">2016 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2048.48px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2194.42px;white-space:nowrap">December </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2836.06px;white-space:nowrap">31, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:3054.96px;white-space:nowrap">2016.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:219.3px;left:0px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:42.54px;white-space:nowrap">Based</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:451.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:633.48px;white-space:nowrap">average </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1144.1px;white-space:nowrap">daily </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1450.43px;white-space:nowrap">shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1880.74px;white-space:nowrap">outstanding.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:415.78px;left:0px;white-space:nowrap">c</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:38.26px;white-space:nowrap">Based</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:446.77px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:629.2px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:848.1px;white-space:nowrap">last </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:1088.81px;white-space:nowrap">sale </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:1365.99px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:1548.42px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:1767.32px;white-space:nowrap">New </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:2063.88px;letter-spacing:-2.41px;white-space:nowrap">York </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:2358.1px;white-space:nowrap">Stock </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:2722.79px;white-space:nowrap">Exchange.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:612.27px;left:0px;white-space:nowrap">d</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:42.54px;letter-spacing:-2.91px;white-space:nowrap">Total</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:356.21px;white-space:nowrap">return </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:735.43px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:866.68px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:1085.59px;white-space:nowrap">annualized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:1756.76px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:1946.37px;white-space:nowrap">periods </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:2413.17px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:2683.01px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:2974.88px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:3230.27px;letter-spacing:-1.44px;white-space:nowrap">year.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:808.75px;left:0px;white-space:nowrap">e</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:42.54px;white-space:nowrap">Ratios</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:450.9px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:676.99px;white-space:nowrap">annualized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:1348.17px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:1537.77px;white-space:nowrap">periods </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2004.57px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2274.42px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2566.29px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2821.68px;letter-spacing:-1.44px;white-space:nowrap">year.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1005.24px;left:0px;white-space:nowrap">f</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:21.27px;text-rendering:optimizeLegibility;white-space:nowrap">Benefit</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:466.27px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;position:absolute;top:1001.02px;left:612.21px;white-space:nowrap">of</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:758.15px;white-space:nowrap">expense </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:1290.72px;white-space:nowrap">reduction </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:1866.97px;white-space:nowrap">rounds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:2304.63px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:2450.57px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:2720.41px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:3012.29px;white-space:nowrap">0.01%.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1257.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1546.42px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3020.34px;white-space:nowrap">(unaudited), </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:4480.18px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:5116.21px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:5549.88px;white-space:nowrap">2021</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4940.94px;white-space:nowrap">statements.</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">10</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12269px;position:absolute;top:1.32px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">











































































































































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:5992.83px;white-space:nowrap">Industry</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:7423.4px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:216.23px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1220.87px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2454.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2858.17px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:3636.2px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:4647.82px;white-space:nowrap">75.0%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1223.17px;white-space:nowrap">1.9%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:302.33px;white-space:nowrap">a,b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1161.38px;white-space:nowrap">BONCER</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1845.91px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1572.25px;white-space:nowrap">1%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1892.41px;white-space:nowrap">8/05/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2487.09px;letter-spacing:52.54px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7275.09px;letter-spacing:-1.19px;white-space:nowrap">78,112,906</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9501.64px;white-space:nowrap">466,206</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1572.25px;white-space:nowrap">1.2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2025.84px;white-space:nowrap">3/18/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:7174.23px;white-space:nowrap">763,262,751</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:9368.2px;white-space:nowrap">4,529,545</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1572.25px;white-space:nowrap">1.3%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:2025.84px;white-space:nowrap">9/20/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:7352.2px;white-space:nowrap">6,827,103</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:9590.63px;white-space:nowrap">40,009</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1572.25px;white-space:nowrap">1.4%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:2025.84px;white-space:nowrap">3/25/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:7174.23px;white-space:nowrap">533,054,791</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:9368.2px;white-space:nowrap">3,043,480</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1572.25px;white-space:nowrap">1.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:2025.84px;white-space:nowrap">3/25/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:7174.23px;white-space:nowrap">484,010,203</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:9368.2px;white-space:nowrap">2,623,885</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2137.39px;left:307.57px;white-space:nowrap">b,c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1161.38px;white-space:nowrap">Bonos</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1659.5px;white-space:nowrap">del </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1914.58px;letter-spacing:-2.53px;white-space:nowrap">Tesoro </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:2439.27px;white-space:nowrap">Nacional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:3106.3px;white-space:nowrap">en</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2326.18px;left:576px;white-space:nowrap">Pesos </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2326.18px;left:1065.14px;letter-spacing:-1.47px;white-space:nowrap">Badlar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2326.18px;left:1518.81px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2326.18px;left:1607.72px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2326.18px;left:2025.45px;white-space:nowrap">36.104%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2326.18px;left:2746px;white-space:nowrap">(ARS </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2518.18px;left:576px;white-space:nowrap">BADLAR </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2518.18px;left:1260.69px;white-space:nowrap">+ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2518.18px;left:1398.58px;white-space:nowrap">2%), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2518.18px;left:1772.02px;white-space:nowrap">4/03/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2518.18px;left:2393.68px;letter-spacing:52.14px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2518.18px;left:7263.22px;white-space:nowrap">20,588,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2518.18px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2518.18px;left:9513.52px;letter-spacing:-1.7px;white-space:nowrap">117,972</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2717.87px;left:380.12px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2729.22px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2729.22px;left:1161.38px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2729.22px;left:2086.22px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2729.22px;left:2459.89px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:576px;white-space:nowrap">18.2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:1118.58px;white-space:nowrap">10/03/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:7174.23px;white-space:nowrap">252,627,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:9368.2px;white-space:nowrap">1,416,587</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:576px;white-space:nowrap">16%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:985.14px;white-space:nowrap">10/17/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:7174.23px;white-space:nowrap">296,072,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:9368.2px;white-space:nowrap">1,076,797</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:576px;white-space:nowrap">15.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:1118.58px;white-space:nowrap">10/17/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:7174.23px;white-space:nowrap">512,895,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:9368.2px;white-space:nowrap">1,218,251</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3602.44px;left:9279.22px;white-space:nowrap">14,532,732</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3900.77px;left:432px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3900.77px;left:912.16px;white-space:nowrap">5.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4111.81px;left:432px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4111.81px;left:876.53px;white-space:nowrap">Notas</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4111.81px;left:1338.95px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4111.81px;left:1558.48px;letter-spacing:-2.53px;white-space:nowrap">Tesouro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4111.81px;left:2172.16px;white-space:nowrap">Nacional</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4111.81px;left:2794.73px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4308.29px;left:576px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4308.29px;left:985.14px;white-space:nowrap">1/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4308.29px;left:1552.96px;letter-spacing:50.55px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4308.29px;left:7263.22px;white-space:nowrap">37,140,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4308.29px;left:8190.69px;letter-spacing:-1.98px;white-space:nowrap">BRL</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4308.29px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">7,911,777</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4504.78px;left:576px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4504.78px;left:985.14px;white-space:nowrap">1/01/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4504.78px;left:1552.96px;letter-spacing:50.55px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4504.78px;left:7263.22px;white-space:nowrap">72,510,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4504.78px;left:8190.69px;letter-spacing:-1.98px;white-space:nowrap">BRL</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4504.78px;left:9279.22px;white-space:nowrap">15,532,816</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4701.26px;left:576px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4701.26px;left:985.14px;white-space:nowrap">1/01/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4701.26px;left:1552.96px;letter-spacing:50.55px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4701.26px;left:7352.2px;white-space:nowrap">9,230,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4701.26px;left:8190.69px;letter-spacing:-1.98px;white-space:nowrap">BRL</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4701.26px;left:9368.2px;white-space:nowrap">1,983,514</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.75px;left:576px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.75px;left:985.14px;white-space:nowrap">1/01/31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.75px;left:1552.96px;letter-spacing:50.55px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.75px;left:7263.22px;white-space:nowrap">77,560,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.75px;left:8190.69px;letter-spacing:-1.98px;white-space:nowrap">BRL</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.75px;left:9279.22px;white-space:nowrap">16,544,848</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5181.51px;left:9279.22px;white-space:nowrap">41,972,955</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5479.84px;left:432px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5479.84px;left:920.91px;white-space:nowrap">4.5%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5676.32px;left:432px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5676.32px;left:894.5px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5676.32px;left:1819.34px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5676.32px;left:2281.92px;white-space:nowrap">2.93%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5868.32px;left:576px;white-space:nowrap">12/10/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5868.32px;left:1272.72px;letter-spacing:50.32px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5868.32px;left:7174.23px;white-space:nowrap">228,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5868.32px;left:8161.08px;letter-spacing:-0.96px;white-space:nowrap">CNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5868.32px;left:9279.22px;white-space:nowrap">35,474,361</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6166.65px;left:432px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6166.65px;left:1205.36px;white-space:nowrap">4.1%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6377.69px;left:432px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6377.69px;left:1152.31px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6377.69px;left:2077.16px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6377.69px;left:2450.83px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6574.18px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6574.18px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6574.18px;left:1545.53px;white-space:nowrap">4.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6574.18px;left:2177.09px;white-space:nowrap">3/21/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6574.18px;left:2767.33px;letter-spacing:54.69px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6574.18px;left:7174.23px;white-space:nowrap">149,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6574.18px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6574.18px;left:9590.63px;white-space:nowrap">40,674</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.66px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.66px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.66px;left:1545.53px;white-space:nowrap">9.85%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.66px;left:2088.11px;white-space:nowrap">6/28/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.66px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.66px;left:7174.23px;white-space:nowrap">237,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.66px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.66px;left:9590.63px;white-space:nowrap">75,493</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:432px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:1149.42px;letter-spacing:-0.85px;white-space:nowrap">Titulos</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:1659.19px;white-space:nowrap">de </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:1878.72px;letter-spacing:-1.97px;white-space:nowrap">Tesoreria</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:2536.77px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:771.63px;white-space:nowrap">7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:1091.78px;white-space:nowrap">5/04/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:7040.8px;white-space:nowrap">4,020,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:9368.2px;white-space:nowrap">1,107,399</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:771.63px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:1180.77px;white-space:nowrap">7/24/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:6951.81px;white-space:nowrap">73,279,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:9279.22px;white-space:nowrap">22,272,577</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:771.63px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:1225.22px;white-space:nowrap">8/26/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:6951.81px;white-space:nowrap">10,320,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:9368.2px;white-space:nowrap">2,914,888</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:771.63px;white-space:nowrap">6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:1091.78px;white-space:nowrap">4/28/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:6951.81px;white-space:nowrap">13,320,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:9368.2px;white-space:nowrap">3,412,078</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:771.63px;white-space:nowrap">7.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:1314.2px;white-space:nowrap">9/18/30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:1926.61px;letter-spacing:51.01px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:7040.8px;white-space:nowrap">9,129,700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:9368.2px;white-space:nowrap">2,539,159</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8247.89px;left:9279.22px;white-space:nowrap">32,362,268</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8546.22px;left:432px;white-space:nowrap">Ecuador </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8546.22px;left:1116.61px;white-space:nowrap">3.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8745.91px;left:380.12px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:432px;white-space:nowrap">Ecuador </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:1072.39px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:1997.23px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:2370.91px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8953.75px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8953.75px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8953.75px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8953.75px;left:1972.41px;white-space:nowrap">0.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8953.75px;left:2426px;white-space:nowrap">7/31/30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8953.75px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8953.75px;left:7352.2px;white-space:nowrap">5,633,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8953.75px;left:9368.2px;white-space:nowrap">4,844,437</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9150.23px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9150.23px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9150.23px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9150.23px;left:2008.11px;white-space:nowrap">0.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9150.23px;left:2461.7px;white-space:nowrap">7/31/35</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9150.23px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9150.23px;left:7263.22px;white-space:nowrap">19,496,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9150.23px;left:9279.22px;white-space:nowrap">13,452,240</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9346.72px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9346.72px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9346.72px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9346.72px;left:2008.11px;white-space:nowrap">0.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9346.72px;left:2461.7px;white-space:nowrap">7/31/40</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9346.72px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9346.72px;left:7263.22px;white-space:nowrap">10,291,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9346.72px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">6,419,011</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9630.48px;left:9279.22px;white-space:nowrap">24,715,688</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9928.81px;left:432px;white-space:nowrap">Ghana </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9928.81px;left:974.34px;white-space:nowrap">3.9%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10139.85px;left:432px;white-space:nowrap">Ghana </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10139.85px;left:956.84px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10139.85px;left:1881.69px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10139.85px;left:2255.36px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10336.33px;left:576px;white-space:nowrap">24.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10336.33px;left:1207.56px;white-space:nowrap">7/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10336.33px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10336.33px;left:7485.64px;white-space:nowrap">360,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10336.33px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10336.33px;left:9590.63px;white-space:nowrap">61,527</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10532.82px;left:576px;white-space:nowrap">18.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10532.82px;left:1207.56px;white-space:nowrap">1/24/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10532.82px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10532.82px;left:7352.2px;white-space:nowrap">8,600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10532.82px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10532.82px;left:9368.2px;white-space:nowrap">1,489,289</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10729.3px;left:576px;white-space:nowrap">17.6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10729.3px;left:1118.58px;letter-spacing:-1.48px;white-space:nowrap">11/28/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10729.3px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10729.3px;left:7485.64px;white-space:nowrap">150,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10729.3px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10729.3px;left:9590.63px;white-space:nowrap">26,008</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10925.79px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10925.79px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10925.79px;left:1509.83px;white-space:nowrap">17.6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10925.79px;left:2052.41px;white-space:nowrap">2/20/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10925.79px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10925.79px;left:7263.22px;white-space:nowrap">10,130,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10925.79px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10925.79px;left:9368.2px;white-space:nowrap">1,758,890</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11122.27px;left:576px;white-space:nowrap">18.85%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11122.27px;left:1207.56px;white-space:nowrap">9/28/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11122.27px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11122.27px;left:7263.22px;white-space:nowrap">13,670,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11122.27px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11122.27px;left:9368.2px;white-space:nowrap">2,439,498</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11318.76px;left:576px;white-space:nowrap">19.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11318.76px;left:1207.56px;letter-spacing:-1.48px;white-space:nowrap">11/27/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11318.76px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11318.76px;left:7485.64px;white-space:nowrap">380,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11318.76px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11318.76px;left:9590.63px;white-space:nowrap">68,285</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11515.24px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11515.24px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11515.24px;left:1509.83px;white-space:nowrap">17.7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11515.24px;left:2052.41px;white-space:nowrap">3/18/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11515.24px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11515.24px;left:7263.22px;white-space:nowrap">47,440,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11515.24px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11515.24px;left:9368.2px;white-space:nowrap">8,245,073</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11711.73px;left:576px;white-space:nowrap">19.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11711.73px;left:1207.56px;white-space:nowrap">3/25/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11711.73px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11711.73px;left:7352.2px;white-space:nowrap">8,520,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11711.73px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11711.73px;left:9368.2px;white-space:nowrap">1,543,192</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11908.21px;left:576px;white-space:nowrap">21.7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11908.21px;left:1118.58px;white-space:nowrap">3/17/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11908.21px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11908.21px;left:7275.09px;letter-spacing:-1.19px;white-space:nowrap">12,110,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11908.21px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11908.21px;left:9368.2px;white-space:nowrap">2,282,551</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:580.79px;letter-spacing:-4.8px;white-space:nowrap">11</div></div>
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		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12258px;position:absolute;top:1.32px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">



















































































































































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:5992.83px;white-space:nowrap">Industry</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:7423.4px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:216.23px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1220.87px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2454.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2858.17px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:3636.2px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:4647.82px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:432px;white-space:nowrap">Ghana </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:744.23px;left:974.34px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:432px;white-space:nowrap">Ghana </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:956.84px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1881.69px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2344.27px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:576px;white-space:nowrap">19.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1207.56px;white-space:nowrap">6/23/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7352.2px;white-space:nowrap">7,340,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9368.2px;white-space:nowrap">1,306,666</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1509.83px;white-space:nowrap">18.3%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2052.41px;white-space:nowrap">3/02/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:7275.09px;letter-spacing:-1.19px;white-space:nowrap">11,230,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:9368.2px;white-space:nowrap">1,935,321</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:576px;white-space:nowrap">19%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:985.14px;letter-spacing:-1.48px;white-space:nowrap">11/02/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:7263.22px;white-space:nowrap">25,560,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:9368.2px;white-space:nowrap">4,473,264</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:576px;white-space:nowrap">19.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1207.56px;white-space:nowrap">3/15/32</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:7263.22px;white-space:nowrap">25,560,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:9368.2px;white-space:nowrap">4,504,934</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2024.97px;left:9279.22px;white-space:nowrap">30,134,498</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2323.3px;left:432px;white-space:nowrap">India </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2323.3px;left:849.81px;white-space:nowrap">4.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2534.34px;left:432px;white-space:nowrap">India </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2534.34px;left:823.41px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2534.34px;left:1748.25px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2534.34px;left:2121.92px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2730.83px;left:576px;white-space:nowrap">8.79%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2730.83px;left:1118.58px;letter-spacing:-1.48px;white-space:nowrap">11/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2730.83px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2730.83px;left:7174.23px;white-space:nowrap">160,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2730.83px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2730.83px;left:9368.2px;white-space:nowrap">2,196,527</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2927.31px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2927.31px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2927.31px;left:1509.83px;white-space:nowrap">5.22%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2927.31px;left:2052.41px;white-space:nowrap">6/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2927.31px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2927.31px;left:7186.11px;letter-spacing:-1.08px;white-space:nowrap">117,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2927.31px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2927.31px;left:9368.2px;white-space:nowrap">1,554,737</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:576px;white-space:nowrap">7.59%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:1118.58px;letter-spacing:-1.7px;white-space:nowrap">1/11/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:7040.8px;white-space:nowrap">1,433,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:9279.22px;white-space:nowrap">20,567,891</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:576px;white-space:nowrap">7.27%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:1118.58px;white-space:nowrap">4/08/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:7263.22px;white-space:nowrap">79,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:9368.2px;white-space:nowrap">1,122,243</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:576px;white-space:nowrap">8.33%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:1118.58px;white-space:nowrap">7/09/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:7174.23px;white-space:nowrap">624,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:9368.2px;white-space:nowrap">9,229,589</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3800.53px;left:9279.22px;white-space:nowrap">34,670,987</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4098.86px;left:432px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4098.86px;left:1223.25px;white-space:nowrap">12.0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4309.9px;left:432px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4309.9px;left:1170.36px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4309.9px;left:2095.2px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4309.9px;left:2468.88px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4506.38px;left:576px;white-space:nowrap">FR53, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4506.38px;left:1056.16px;white-space:nowrap">8.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4506.38px;left:1598.73px;white-space:nowrap">7/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4506.38px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4506.38px;left:6951.81px;white-space:nowrap">51,610,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4506.38px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4506.38px;left:9368.2px;white-space:nowrap">3,565,025</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4702.87px;left:576px;white-space:nowrap">FR61, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4702.87px;left:1056.16px;white-space:nowrap">7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4702.87px;left:1376.31px;white-space:nowrap">5/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4702.87px;left:1926.61px;letter-spacing:51.01px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4702.87px;left:6951.81px;white-space:nowrap">52,869,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4702.87px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4702.87px;left:9368.2px;white-space:nowrap">3,760,517</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:576px;white-space:nowrap">FR35, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:1056.16px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:1563.11px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:2025.69px;white-space:nowrap">12.9%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:2568.27px;white-space:nowrap">6/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:6951.81px;white-space:nowrap">42,438,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4899.35px;left:9368.2px;white-space:nowrap">3,185,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5095.84px;left:576px;white-space:nowrap">FR43, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5095.84px;left:1056.16px;white-space:nowrap">10.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5095.84px;left:1687.72px;white-space:nowrap">7/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5095.84px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5095.84px;left:7040.8px;white-space:nowrap">4,826,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5095.84px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5095.84px;left:9501.64px;white-space:nowrap">355,097</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5292.32px;left:576px;white-space:nowrap">FR63, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5292.32px;left:1056.16px;white-space:nowrap">5.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5292.32px;left:1687.72px;white-space:nowrap">5/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5292.32px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5292.32px;left:6862.83px;white-space:nowrap">436,562,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5292.32px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5292.32px;left:9279.22px;white-space:nowrap">30,839,342</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:576px;white-space:nowrap">FR46, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:1056.16px;white-space:nowrap">9.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:1509.75px;white-space:nowrap">7/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:6963.69px;letter-spacing:-0.85px;white-space:nowrap">11,430,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:9501.64px;white-space:nowrap">865,172</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:576px;white-space:nowrap">FR39, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:1056.16px;letter-spacing:-1.48px;white-space:nowrap">11.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:1675.84px;white-space:nowrap">8/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:7040.8px;white-space:nowrap">2,703,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:9501.64px;white-space:nowrap">213,573</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:576px;white-space:nowrap">FR70, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:1056.16px;white-space:nowrap">8.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:1687.72px;white-space:nowrap">3/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:6862.83px;white-space:nowrap">104,477,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:9368.2px;white-space:nowrap">7,880,952</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:576px;white-space:nowrap">FR44, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:1056.16px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:1465.3px;white-space:nowrap">9/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:2020.02px;letter-spacing:51.16px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:7040.8px;white-space:nowrap">1,618,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:9501.64px;white-space:nowrap">127,207</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:576px;white-space:nowrap">FR81, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:1056.16px;white-space:nowrap">6.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:1509.75px;white-space:nowrap">6/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:6862.83px;white-space:nowrap">201,654,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:9279.22px;white-space:nowrap">14,614,491</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:576px;white-space:nowrap">FR86, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:1056.16px;white-space:nowrap">5.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:1509.75px;white-space:nowrap">4/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:6862.83px;white-space:nowrap">406,310,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:9279.22px;white-space:nowrap">28,158,684</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6754.99px;left:9279.22px;white-space:nowrap">93,565,310</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7053.32px;left:432px;white-space:nowrap">Mexico </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7053.32px;left:1018.87px;white-space:nowrap">3.7%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.36px;left:432px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.36px;left:1072.23px;white-space:nowrap">Bonos</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.36px;left:1570.36px;white-space:nowrap">Desarr</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.36px;left:2094.89px;white-space:nowrap">Fixed </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.36px;left:2530.59px;white-space:nowrap">Rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.36px;left:2868.56px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:576px;white-space:nowrap">M, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:798.19px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:1305.14px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:1732.02px;white-space:nowrap">7.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:2274.59px;white-space:nowrap">12/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:7174.23px;white-space:nowrap">297,180,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7460.85px;left:9279.22px;white-space:nowrap">15,050,631</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7657.33px;left:576px;white-space:nowrap">M, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7657.33px;left:798.19px;white-space:nowrap">6.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7657.33px;left:1251.78px;white-space:nowrap">6/09/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7657.33px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7657.33px;left:7174.23px;white-space:nowrap">232,730,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7657.33px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7657.33px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">11,790,191</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:576px;white-space:nowrap">M, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:798.19px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:1305.14px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:1767.72px;white-space:nowrap">8%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:2087.88px;white-space:nowrap">12/07/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:2767.33px;letter-spacing:54.69px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:7263.22px;white-space:nowrap">44,550,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7853.82px;left:9368.2px;white-space:nowrap">2,343,470</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8137.58px;left:9279.22px;white-space:nowrap">29,184,292</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.91px;left:432px;white-space:nowrap">Norway </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.91px;left:1054.42px;white-space:nowrap">3.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8635.6px;left:380.12px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8646.95px;left:432px;white-space:nowrap">Norway </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8646.95px;left:1018.8px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8646.95px;left:1943.64px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8646.95px;left:2317.31px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:1038.58px;white-space:nowrap">Reg</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:1572.17px;white-space:nowrap">2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:1892.33px;white-space:nowrap">5/24/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:2487.09px;letter-spacing:52.54px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:7174.23px;white-space:nowrap">102,083,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8843.44px;left:9279.22px;white-space:nowrap">12,161,829</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:1038.58px;white-space:nowrap">Reg</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:1572.17px;white-space:nowrap">3%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:1892.33px;white-space:nowrap">3/14/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:2487.09px;letter-spacing:52.54px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:7263.22px;white-space:nowrap">85,878,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9039.92px;left:9279.22px;white-space:nowrap">10,545,254</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:1038.58px;white-space:nowrap">Reg</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:1572.17px;white-space:nowrap">1.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:2114.75px;white-space:nowrap">3/13/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:7263.22px;white-space:nowrap">28,937,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9236.4px;left:9368.2px;white-space:nowrap">3,452,761</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:1038.58px;white-space:nowrap">Reg</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:1572.17px;white-space:nowrap">1.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:2025.77px;white-space:nowrap">2/19/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:7263.22px;white-space:nowrap">17,165,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9432.89px;left:9368.2px;white-space:nowrap">2,031,806</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9716.65px;left:9279.22px;white-space:nowrap">28,191,650</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10014.98px;left:432px;white-space:nowrap">Oman </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10014.98px;left:929.89px;white-space:nowrap">3.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10214.67px;left:380.12px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10211.46px;left:432px;white-space:nowrap">Oman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10211.46px;left:912.16px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10211.46px;left:1837px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10211.46px;left:2299.58px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10211.46px;left:2806.53px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10403.46px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10403.46px;left:1038.58px;white-space:nowrap">4.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10403.46px;left:1581.16px;white-space:nowrap">6/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10403.46px;left:2114.98px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10403.46px;left:7263.22px;white-space:nowrap">27,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10403.46px;left:9279.22px;white-space:nowrap">28,384,492</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10701.79px;left:432px;white-space:nowrap">Russia </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10701.79px;left:1001.14px;white-space:nowrap">4.8%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10898.27px;left:432px;white-space:nowrap">Russia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10898.27px;left:965.52px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10898.27px;left:1890.36px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10898.27px;left:2352.94px;white-space:nowrap">7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10898.27px;left:2673.09px;white-space:nowrap">8/16/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10898.27px;left:7040.8px;white-space:nowrap">2,700,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10898.27px;left:8158.19px;white-space:nowrap">RUB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10898.27px;left:9279.22px;white-space:nowrap">37,137,653</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11196.6px;left:432px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11196.6px;left:929.66px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11196.6px;left:1427.63px;white-space:nowrap">16.7%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11407.64px;left:432px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11407.64px;left:903.41px;white-space:nowrap">Monetary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11407.64px;left:1614.81px;white-space:nowrap">Stabilization </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11407.64px;left:2522px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11407.64px;left:2895.67px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11604.13px;left:576px;white-space:nowrap">1.18%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11604.13px;left:1118.58px;white-space:nowrap">8/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11604.13px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11604.13px;left:7040.8px;white-space:nowrap">2,322,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11604.13px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11604.13px;left:9368.2px;white-space:nowrap">2,056,001</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11800.61px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11800.61px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11800.61px;left:1509.83px;white-space:nowrap">0.905%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11800.61px;left:2141.39px;white-space:nowrap">4/02/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11800.61px;left:2675.22px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11800.61px;left:6951.81px;white-space:nowrap">28,320,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11800.61px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11800.61px;left:9279.22px;white-space:nowrap">24,899,272</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4940.94px;white-space:nowrap">statements.</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">12</div></div>
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			<div style="width:10080px;height:12269px;position:absolute;top:1.32px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">





































































































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:5992.83px;white-space:nowrap">Industry</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:7423.4px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:216.23px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1220.87px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2454.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2858.17px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:3636.2px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:4647.82px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:432px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:929.66px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:744.23px;left:1427.63px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:432px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:900.52px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1570.28px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1943.95px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:576px;white-space:nowrap">1.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1207.56px;white-space:nowrap">9/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7040.8px;white-space:nowrap">3,483,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9368.2px;white-space:nowrap">3,087,568</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:576px;white-space:nowrap">2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:896.16px;white-space:nowrap">12/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1552.96px;letter-spacing:50.55px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:7040.8px;white-space:nowrap">4,254,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:9368.2px;white-space:nowrap">3,786,773</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:576px;white-space:nowrap">2.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1118.58px;white-space:nowrap">9/10/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:6951.81px;white-space:nowrap">19,359,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:9279.22px;white-space:nowrap">17,450,942</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:576px;white-space:nowrap">0.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1207.56px;white-space:nowrap">12/10/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:6951.81px;white-space:nowrap">22,561,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:9279.22px;white-space:nowrap">19,724,841</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:576px;white-space:nowrap">1.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1207.56px;white-space:nowrap">9/10/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:6963.69px;letter-spacing:-0.85px;white-space:nowrap">11,135,070,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:9368.2px;white-space:nowrap">9,801,476</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:576px;white-space:nowrap">3%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:896.16px;white-space:nowrap">9/10/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1459.54px;letter-spacing:50.47px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:7040.8px;white-space:nowrap">5,310,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:9368.2px;white-space:nowrap">4,910,829</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:576px;white-space:nowrap">1.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1207.56px;white-space:nowrap">6/10/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:6951.81px;white-space:nowrap">50,619,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:9279.22px;white-space:nowrap">44,995,084</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2614.43px;left:9190.23px;white-space:nowrap">130,712,786</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2912.75px;left:432px;white-space:nowrap">Sri </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2912.75px;left:689.89px;white-space:nowrap">Lanka </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2912.75px;left:1196.77px;white-space:nowrap">0.4%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3112.45px;left:380.12px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:432px;white-space:nowrap">Sri </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:672px;white-space:nowrap">Lanka </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:1152.39px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:2077.23px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3123.8px;left:2450.91px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:1972.41px;white-space:nowrap">5.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:2514.98px;white-space:nowrap">4/18/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:3048.81px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3320.28px;left:9501.64px;white-space:nowrap">149,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:1972.41px;white-space:nowrap">6.35%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:2514.98px;white-space:nowrap">6/28/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:3048.81px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.77px;left:9501.64px;white-space:nowrap">276,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3713.25px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3713.25px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3713.25px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3713.25px;left:2008.11px;white-space:nowrap">6.85%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3713.25px;left:2550.69px;letter-spacing:-1.48px;white-space:nowrap">11/03/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3713.25px;left:7485.64px;white-space:nowrap">960,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3713.25px;left:9501.64px;white-space:nowrap">645,600</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:2008.11px;white-space:nowrap">6.2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:2461.7px;letter-spacing:-1.7px;white-space:nowrap">5/11/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:7352.2px;white-space:nowrap">2,720,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:9368.2px;white-space:nowrap">1,685,883</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:2008.11px;white-space:nowrap">6.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:2550.69px;white-space:nowrap">4/18/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:7485.64px;white-space:nowrap">210,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:9501.64px;white-space:nowrap">132,147</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:2008.11px;white-space:nowrap">7.85%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:2550.69px;white-space:nowrap">3/14/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:7485.64px;white-space:nowrap">299,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:9501.64px;white-space:nowrap">191,360</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4586.47px;left:9368.2px;white-space:nowrap">3,080,740</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4884.79px;left:432px;white-space:nowrap">Supranational </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4884.79px;left:1543.25px;white-space:nowrap">1.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5084.49px;left:380.12px;white-space:nowrap">e</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5081.28px;left:432px;white-space:nowrap">Inter-American </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5081.28px;left:1525.67px;white-space:nowrap">Development </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5081.28px;left:2512.86px;white-space:nowrap">Bank, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.28px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.28px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.28px;left:1545.53px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.28px;left:1999.13px;white-space:nowrap">12/05/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.28px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.28px;left:7174.23px;white-space:nowrap">185,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.28px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.28px;left:9368.2px;white-space:nowrap">9,523,144</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5571.6px;left:432px;letter-spacing:-1.08px;white-space:nowrap">Turkey </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5571.6px;left:989.27px;white-space:nowrap">1.6%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5782.65px;left:432px;letter-spacing:-0.85px;white-space:nowrap">Turkey </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5782.65px;left:959.5px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5782.65px;left:1884.34px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5782.65px;left:2258.02px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.13px;left:576px;white-space:nowrap">13.9%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.13px;left:1118.58px;letter-spacing:-1.48px;white-space:nowrap">11/09/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.13px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.13px;left:7263.22px;white-space:nowrap">56,290,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.13px;left:8181.78px;letter-spacing:-1.93px;white-space:nowrap">TRY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.13px;left:9368.2px;white-space:nowrap">6,199,895</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6175.62px;left:576px;white-space:nowrap">12.2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6175.62px;left:1118.58px;white-space:nowrap">1/18/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6175.62px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6175.62px;left:7352.2px;white-space:nowrap">3,790,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6175.62px;left:8181.78px;letter-spacing:-1.93px;white-space:nowrap">TRY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6175.62px;left:9501.64px;white-space:nowrap">405,244</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6372.1px;left:576px;white-space:nowrap">7.1%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6372.1px;left:1029.59px;white-space:nowrap">3/08/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6372.1px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6372.1px;left:7263.22px;white-space:nowrap">16,150,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6372.1px;left:8181.78px;letter-spacing:-1.93px;white-space:nowrap">TRY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6372.1px;left:9368.2px;white-space:nowrap">1,582,635</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6568.58px;left:576px;white-space:nowrap">16.2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6568.58px;left:1118.58px;white-space:nowrap">6/14/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6568.58px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6568.58px;left:7263.22px;white-space:nowrap">20,020,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6568.58px;left:8181.78px;letter-spacing:-1.93px;white-space:nowrap">TRY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6568.58px;left:9368.2px;white-space:nowrap">2,250,479</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6765.07px;left:576px;white-space:nowrap">8.8%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6765.07px;left:1029.59px;white-space:nowrap">9/27/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6765.07px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6765.07px;left:7263.22px;white-space:nowrap">10,390,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6765.07px;left:8181.78px;letter-spacing:-1.93px;white-space:nowrap">TRY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6765.07px;left:9368.2px;white-space:nowrap">1,005,004</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6961.55px;left:576px;white-space:nowrap">10.4%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6961.55px;left:1118.58px;white-space:nowrap">3/20/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6961.55px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6961.55px;left:7485.64px;white-space:nowrap">880,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6961.55px;left:8181.78px;letter-spacing:-1.93px;white-space:nowrap">TRY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6961.55px;left:9590.63px;white-space:nowrap">86,408</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7158.04px;left:576px;white-space:nowrap">12.6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7158.04px;left:1118.58px;white-space:nowrap">10/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7158.04px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7158.04px;left:7352.2px;white-space:nowrap">9,710,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7158.04px;left:8181.78px;letter-spacing:-1.93px;white-space:nowrap">TRY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7158.04px;left:9501.64px;white-space:nowrap">953,995</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7441.8px;left:9279.22px;white-space:nowrap">12,483,660</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:950.46px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:1739.32px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:2972.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:3376.63px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:4154.66px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:5166.28px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:5732.88px;white-space:nowrap">$647,803,096)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7720.82px;left:7124.25px;letter-spacing:54.66px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7754.69px;left:9190.23px;white-space:nowrap">586,127,216</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8233.37px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8233.37px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8425.37px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8233.37px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8425.37px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:8428.58px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:8638.46px;left:6596.2px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:8638.46px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:8638.46px;left:8041.75px;white-space:nowrap">aa</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8743.66px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8743.66px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8743.66px;left:2321.26px;white-space:nowrap">0.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9052.58px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9052.58px;left:858.88px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9052.58px;left:956.61px;white-space:nowrap">Over-the-Counter</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9327.62px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9327.62px;left:1178.95px;white-space:nowrap">Options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9556.11px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9556.11px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9556.11px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9748.11px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9748.11px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9748.11px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9748.11px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:984.98px;white-space:nowrap">86.50 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:2369.52px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:7280.2px;white-space:nowrap">6,752,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9940.11px;left:9590.63px;white-space:nowrap">43,151</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10136.59px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10136.59px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10136.59px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10328.59px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10328.59px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10328.59px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10328.59px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:984.98px;white-space:nowrap">107.45 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:1518.81px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:1880.53px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:2458.5px;white-space:nowrap">2/23/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:7280.2px;white-space:nowrap">5,966,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10520.59px;left:9501.64px;white-space:nowrap">232,961</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10717.07px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10717.07px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10717.07px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10909.07px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10909.07px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10909.07px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10909.07px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10909.07px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11101.07px;left:576px;letter-spacing:-1.7px;white-space:nowrap">115.95 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11101.07px;left:1097.95px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11101.07px;left:1459.67px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11101.07px;left:2037.64px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11101.07px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11101.07px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11101.07px;left:7191.22px;letter-spacing:0px;white-space:nowrap">17,616,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11101.07px;left:9679.61px;white-space:nowrap">4,326</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11297.56px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11297.56px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11297.56px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11489.56px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11489.56px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11489.56px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11489.56px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:984.98px;white-space:nowrap">20.98 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:2452.25px;white-space:nowrap">10/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:7191.22px;letter-spacing:0px;white-space:nowrap">20,148,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.56px;left:9501.64px;white-space:nowrap">215,187</div></div>
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			<div style="width:9192px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:7986px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">13</div></div>
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		<div style="background-color:transparent;height:13px;left:527px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12258px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">






































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:248.23px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6596.2px;white-space:nowrap">a </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:8041.75px;white-space:nowrap">aa</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:597.18px;left:2321.26px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:858.87px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:956.61px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:872.23px;left:2325.59px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1147.27px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2114.28px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:576px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1029.44px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1438.42px;white-space:nowrap">21.57 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1883.27px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2327.72px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1951.76px;left:576px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1951.76px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1951.76px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1951.76px;left:7280.2px;white-space:nowrap">2,841,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1951.76px;left:9501.64px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1951.76px;left:9590.63px;white-space:nowrap">12,614</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2532.24px;left:576px;white-space:nowrap">21.65 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2532.24px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2532.24px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2532.24px;left:2043.27px;white-space:nowrap">8/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2532.24px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2532.24px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2532.24px;left:7280.2px;white-space:nowrap">4,955,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2532.24px;left:9590.63px;white-space:nowrap">10,571</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:2114.28px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:2505.69px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:984.98px;white-space:nowrap">22.02 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:2452.25px;white-space:nowrap">6/09/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:7191.22px;letter-spacing:0px;white-space:nowrap">15,407,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3112.72px;left:9501.64px;white-space:nowrap">392,784</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3693.21px;left:576px;white-space:nowrap">22.26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3693.21px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3693.21px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3693.21px;left:2043.27px;white-space:nowrap">8/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3693.21px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3693.21px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3693.21px;left:7280.2px;white-space:nowrap">7,547,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3693.21px;left:9679.61px;white-space:nowrap">3,748</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:984.98px;white-space:nowrap">22.36 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:2452.25px;white-space:nowrap">12/28/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,150,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.69px;left:9590.63px;white-space:nowrap">98,160</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:984.98px;white-space:nowrap">25.55 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:7280.2px;white-space:nowrap">7,723,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4854.18px;left:9501.64px;white-space:nowrap">120,533</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:984.98px;white-space:nowrap">25.55 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:7280.2px;white-space:nowrap">7,723,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5434.66px;left:9501.64px;white-space:nowrap">120,533</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:984.98px;white-space:nowrap">26.30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:7280.2px;white-space:nowrap">2,917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6015.15px;left:9590.63px;white-space:nowrap">81,359</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:984.98px;white-space:nowrap">26.30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:7280.2px;white-space:nowrap">2,917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6595.63px;left:9590.63px;white-space:nowrap">81,359</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:984.98px;white-space:nowrap">26.30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:7280.2px;white-space:nowrap">5,448,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7176.12px;left:9501.64px;white-space:nowrap">151,951</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:984.98px;white-space:nowrap">29.19 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:2452.25px;white-space:nowrap">8/29/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:7280.2px;white-space:nowrap">7,049,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.6px;left:9501.64px;white-space:nowrap">200,718</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:984.98px;white-space:nowrap">29.71 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:2452.25px;white-space:nowrap">8/09/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:7280.2px;white-space:nowrap">7,049,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.08px;left:9501.64px;white-space:nowrap">179,094</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:984.98px;white-space:nowrap">29.73 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:2452.25px;white-space:nowrap">12/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,182,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.57px;left:9679.61px;white-space:nowrap">3,526</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9201.33px;left:9368.2px;white-space:nowrap">1,952,575</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9531.66px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9531.66px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9531.66px;left:920.91px;white-space:nowrap">Over-the-Counter</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9806.7px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9806.7px;left:1178.95px;white-space:nowrap">Options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10035.19px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10035.19px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10035.19px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:1936.47px;white-space:nowrap">July </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:2265.45px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:2718.89px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:576px;white-space:nowrap">71.10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:1960.53px;white-space:nowrap">7/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:7280.2px;white-space:nowrap">1,877,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.19px;left:9991.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.67px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.67px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.67px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:984.98px;white-space:nowrap">75.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:2369.52px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:7191.22px;letter-spacing:0px;white-space:nowrap">13,504,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10999.67px;left:9590.63px;white-space:nowrap">36,167</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11196.16px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11196.16px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11196.16px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:1936.47px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:2763.58px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:984.98px;white-space:nowrap">77.45 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:2369.52px;white-space:nowrap">9/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:7280.2px;white-space:nowrap">5,975,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11580.16px;left:9679.61px;white-space:nowrap">7,468</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4940.94px;white-space:nowrap">statements.</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">14</div></div>
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		<div style="background-image:url(data:image/png;base64,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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:248.23px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6596.2px;white-space:nowrap">a </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:8041.75px;white-space:nowrap">aa</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:597.18px;left:2321.26px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:920.91px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:872.23px;left:2289.89px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1147.27px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1936.47px;white-space:nowrap">July </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2265.45px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2718.89px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:576px;white-space:nowrap">78.50 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1960.53px;white-space:nowrap">7/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:7280.2px;white-space:nowrap">7,506,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9724.06px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9813.05px;white-space:nowrap">446</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1936.47px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:2763.58px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:984.98px;white-space:nowrap">80.55 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:2369.52px;white-space:nowrap">9/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,372,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:9590.63px;white-space:nowrap">45,492</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:984.98px;white-space:nowrap">81.61 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:2369.52px;white-space:nowrap">12/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,950,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:9501.64px;white-space:nowrap">143,935</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:1936.47px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:2763.58px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:984.98px;white-space:nowrap">82.66 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:2369.52px;white-space:nowrap">9/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:7191.22px;letter-spacing:0px;white-space:nowrap">25,608,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:9501.64px;white-space:nowrap">230,388</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:576px;white-space:nowrap">102.65 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1109.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1471.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:2049.52px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:7191.22px;letter-spacing:0px;white-space:nowrap">26,440,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:9813.05px;white-space:nowrap">827</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2114.28px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2505.69px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:984.98px;white-space:nowrap">18.70 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:2452.25px;white-space:nowrap">6/09/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:7280.2px;white-space:nowrap">7,704,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:9590.63px;white-space:nowrap">37,629</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:984.98px;white-space:nowrap">18.76 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:2452.25px;white-space:nowrap">10/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,252,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:9590.63px;white-space:nowrap">22,166</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:2114.28px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:2505.69px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:984.98px;white-space:nowrap">19.04 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:2452.25px;white-space:nowrap">6/09/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:7280.2px;white-space:nowrap">7,704,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:9590.63px;white-space:nowrap">55,922</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:576px;white-space:nowrap">19.23 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:2043.27px;white-space:nowrap">8/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:7280.2px;white-space:nowrap">3,716,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:9679.61px;white-space:nowrap">7,501</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:576px;white-space:nowrap">19.35 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:2043.27px;white-space:nowrap">8/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:7280.2px;white-space:nowrap">2,642,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:9679.61px;white-space:nowrap">4,336</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:984.98px;white-space:nowrap">19.43 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:2452.25px;white-space:nowrap">8/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:9590.63px;white-space:nowrap">23,069</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:984.98px;white-space:nowrap">19.58 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:2452.25px;white-space:nowrap">10/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:7280.2px;white-space:nowrap">9,967,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:9590.63px;white-space:nowrap">83,749</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:1936.47px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:2763.58px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:984.98px;white-space:nowrap">19.59 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:2452.25px;white-space:nowrap">9/03/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,203,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:9590.63px;white-space:nowrap">67,771</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:984.98px;white-space:nowrap">19.85 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:7280.2px;white-space:nowrap">1,458,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:9590.63px;white-space:nowrap">19,256</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:984.98px;white-space:nowrap">19.85 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:7280.2px;white-space:nowrap">2,725,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:9590.63px;white-space:nowrap">35,989</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:984.98px;white-space:nowrap">19.85 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:7280.2px;white-space:nowrap">1,458,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:9590.63px;white-space:nowrap">19,256</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:984.98px;white-space:nowrap">19.88 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:2452.25px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:9590.63px;white-space:nowrap">54,832</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">15</div></div>
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			<div style="width:10080px;height:12258px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">







































































































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:248.23px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6596.2px;white-space:nowrap">a </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:8041.75px;white-space:nowrap">aa</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:597.18px;left:2321.26px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:920.91px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:872.23px;left:2289.89px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1147.27px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:576px;white-space:nowrap">21.15 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2043.27px;white-space:nowrap">8/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:7280.2px;white-space:nowrap">4,764,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9501.64px;white-space:nowrap">275,287</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2043.52px;left:9368.2px;white-space:nowrap">1,171,487</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:950.46px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:1761.49px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:2839.71px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:3406.32px;white-space:nowrap">$6,919,703)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:4510.09px;letter-spacing:50.84px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2420.41px;left:9368.2px;white-space:nowrap">3,124,062</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2910.47px;left:432px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2910.47px;left:1009.73px;letter-spacing:-2.97px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2910.47px;left:1539.52px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2910.47px;left:2762.18px;white-space:nowrap">22.4%</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:3432.56px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;font-weight:bold;position:absolute;top:3432.56px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3172.82px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3364.82px;left:7423.4px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:3368.03px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3364.82px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3364.82px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:3577.92px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:3577.92px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:3577.92px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:3577.92px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:3577.92px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:3577.92px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:1220.87px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:2454.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:2858.17px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:3636.2px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:4647.82px;white-space:nowrap">18.1%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3896.03px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3896.03px;left:1223.17px;white-space:nowrap">0.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4095.73px;left:250.5px;white-space:nowrap">a,b,f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:1161.38px;white-space:nowrap">Letras</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:1650.52px;white-space:nowrap">de </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:1872.94px;white-space:nowrap">la </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:2041.92px;white-space:nowrap">Nacion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:2575.59px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:432px;white-space:nowrap">con </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:725.59px;white-space:nowrap">Ajuste</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:1214.73px;white-space:nowrap">por</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:1490.44px;white-space:nowrap">CER</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:1828.25px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:1572.25px;white-space:nowrap">9/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:7263.22px;white-space:nowrap">39,670,920</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:9501.64px;white-space:nowrap">234,915</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:1572.25px;white-space:nowrap">2/28/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:7263.22px;white-space:nowrap">61,257,568</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:9501.64px;white-space:nowrap">359,088</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:1572.25px;white-space:nowrap">4/18/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:7174.23px;white-space:nowrap">186,250,564</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:9368.2px;white-space:nowrap">1,087,704</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5157.73px;left:9368.2px;white-space:nowrap">1,681,707</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5456.06px;left:432px;white-space:nowrap">Egypt </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5456.06px;left:920.91px;white-space:nowrap">3.1%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5655.75px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5667.1px;left:432px;white-space:nowrap">Egypt </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5667.1px;left:882.7px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5667.1px;left:1552.47px;white-space:nowrap">Bills</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5667.1px;left:1845.83px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.59px;left:576px;white-space:nowrap">8/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.59px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.59px;left:7174.23px;white-space:nowrap">208,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.59px;left:8161px;letter-spacing:-0.96px;white-space:nowrap">EGP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.59px;left:9279.22px;white-space:nowrap">13,138,851</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6060.07px;left:576px;white-space:nowrap">8/31/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6060.07px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6060.07px;left:7263.22px;white-space:nowrap">22,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6060.07px;left:8161px;letter-spacing:-0.96px;white-space:nowrap">EGP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6060.07px;left:9368.2px;white-space:nowrap">1,410,305</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6256.56px;left:576px;white-space:nowrap">9/28/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6256.56px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6256.56px;left:7263.22px;white-space:nowrap">12,600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6256.56px;left:8161px;letter-spacing:-0.96px;white-space:nowrap">EGP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6256.56px;left:9513.52px;letter-spacing:-1.7px;white-space:nowrap">780,117</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6453.04px;left:576px;white-space:nowrap">10/05/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6453.04px;left:1272.72px;letter-spacing:50.32px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6453.04px;left:7174.23px;white-space:nowrap">146,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6453.04px;left:8161px;letter-spacing:-0.96px;white-space:nowrap">EGP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6453.04px;left:9368.2px;white-space:nowrap">9,017,102</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6736.81px;left:9279.22px;white-space:nowrap">24,346,375</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7035.13px;left:432px;white-space:nowrap">Japan </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7035.13px;left:938.87px;white-space:nowrap">4.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7234.83px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7246.18px;left:432px;white-space:nowrap">Japan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7246.18px;left:909.5px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7246.18px;left:1579.27px;white-space:nowrap">Bills</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7246.18px;left:1872.63px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7442.66px;left:576px;white-space:nowrap">7/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7442.66px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7442.66px;left:7263.22px;white-space:nowrap">94,100,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7442.66px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7442.66px;left:9501.64px;white-space:nowrap">847,142</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7639.15px;left:576px;white-space:nowrap">8/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7639.15px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7639.15px;left:7174.23px;white-space:nowrap">381,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7639.15px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7639.15px;left:9368.2px;white-space:nowrap">3,430,190</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7835.63px;left:576px;white-space:nowrap">8/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7835.63px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7835.63px;left:7174.23px;white-space:nowrap">261,900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7835.63px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7835.63px;left:9368.2px;white-space:nowrap">2,358,018</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8032.11px;left:576px;letter-spacing:-1.48px;white-space:nowrap">11/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8032.11px;left:1272.72px;letter-spacing:50.32px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8032.11px;left:7040.8px;white-space:nowrap">1,475,950,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8032.11px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8032.11px;left:9279.22px;white-space:nowrap">13,292,495</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8228.6px;left:576px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8228.6px;left:1272.72px;letter-spacing:50.32px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8228.6px;left:7040.8px;white-space:nowrap">1,690,550,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8228.6px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8228.6px;left:9279.22px;white-space:nowrap">15,226,777</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8512.36px;left:9279.22px;white-space:nowrap">35,154,622</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8810.69px;left:432px;white-space:nowrap">Mexico </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8810.69px;left:1018.87px;white-space:nowrap">5.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9010.38px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9007.17px;left:432px;white-space:nowrap">Mexico </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9007.17px;left:983.25px;white-space:nowrap">Cetes</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9007.17px;left:1401.22px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9007.17px;left:1490.13px;white-space:nowrap">BI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9007.17px;left:1641.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9007.17px;left:1730.2px;white-space:nowrap">6/02/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9007.17px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9021.73px;left:7174.23px;white-space:nowrap">955,415,940</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9021.73px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9021.73px;left:9279.22px;white-space:nowrap">45,776,473</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9320.06px;left:432px;white-space:nowrap">Singapore </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9320.06px;left:1258.8px;white-space:nowrap">4.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9519.75px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9531.1px;left:432px;white-space:nowrap">Singapore </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9531.1px;left:1203.02px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9531.1px;left:1872.78px;white-space:nowrap">Bills</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9531.1px;left:2166.14px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9727.59px;left:576px;white-space:nowrap">7/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9727.59px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9727.59px;left:7263.22px;white-space:nowrap">15,710,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9727.59px;left:8149.28px;white-space:nowrap">SGD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9727.59px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">11,681,315</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9924.07px;left:576px;white-space:nowrap">8/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9924.07px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9924.07px;left:7352.2px;white-space:nowrap">2,240,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9924.07px;left:8149.28px;white-space:nowrap">SGD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9924.07px;left:9368.2px;white-space:nowrap">1,665,248</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.56px;left:576px;white-space:nowrap">8/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.56px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.56px;left:7263.22px;white-space:nowrap">14,920,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.56px;left:8149.28px;white-space:nowrap">SGD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.56px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">11,091,170</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10317.04px;left:576px;white-space:nowrap">8/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10317.04px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10317.04px;left:7263.22px;white-space:nowrap">14,030,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10317.04px;left:8149.28px;white-space:nowrap">SGD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10317.04px;left:9279.22px;white-space:nowrap">10,429,257</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10600.81px;left:9279.22px;white-space:nowrap">34,866,990</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:950.46px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:1739.32px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:2972.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:3376.63px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:4154.66px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:5166.28px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:5732.88px;letter-spacing:-0.85px;white-space:nowrap">$144,911,714)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10879.82px;left:7019.68px;letter-spacing:54.23px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10913.69px;left:9190.23px;white-space:nowrap">141,826,167</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="width:10080px;height:12269px;position:absolute;top:1.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">












































































































			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:16.27px;left:432px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:16.27px;left:1009.73px;letter-spacing:-2.97px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:16.27px;left:1539.52px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:50.14px;left:2762.18px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:346.36px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:346.36px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:278.62px;left:5992.83px;white-space:nowrap">Industry</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:278.62px;left:7530.33px;white-space:nowrap">Shares</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:278.62px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:278.62px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:491.72px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:491.72px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:491.72px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:491.72px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:491.72px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:491.72px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:564.92px;left:432px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:564.92px;left:1120.96px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:564.92px;left:1821.26px;white-space:nowrap">Funds </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:564.92px;left:2476.73px;white-space:nowrap">4.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.83px;left:432px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.83px;left:974.19px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.83px;left:1498.88px;white-space:nowrap">4.3%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1009.53px;left:302.33px;white-space:nowrap">g,h</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:432px;white-space:nowrap">Institutional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:1285.83px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:1976.45px;letter-spacing:-0.99px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:2379.42px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:2477.16px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:576px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:1109.44px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:1785.3px;white-space:nowrap">0.01%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:7191.22px;letter-spacing:0px;white-space:nowrap">33,414,069</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:9190.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:9279.22px;white-space:nowrap">33,414,069</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:950.46px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:1639.42px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:2339.71px;white-space:nowrap">Funds </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:2995.18px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:3561.79px;white-space:nowrap">$33,414,069)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:4823.79px;letter-spacing:51px;white-space:nowrap">..................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1511.2px;left:9279.22px;white-space:nowrap">33,414,069</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1812.76px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1812.76px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1812.76px;left:8058.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1812.76px;left:8490.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1812.76px;left:10074.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:950.46px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:1528.19px;letter-spacing:-2.97px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:2057.98px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:3280.63px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:3847.23px;white-space:nowrap">$178,325,783</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:5070.67px;white-space:nowrap">)</div><div style="font-family:Arial, sans-serif;font-size:200px;position:absolute;top:1877.5px;left:5137.49px;letter-spacing:51.19px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1911.37px;left:9190.23px;white-space:nowrap">175,240,236</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:2125.65px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2125.65px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2125.65px;left:10074.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:2211.74px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:950.46px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:2173.11px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:2739.71px;white-space:nowrap">$833,048,582) </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:4085.32px;white-space:nowrap">97.8%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:4719.22px;letter-spacing:50.94px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2318.81px;left:9101.25px;white-space:nowrap">$764,491,514</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2510.55px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2510.55px;left:1243.04px;letter-spacing:-0.45px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2510.55px;left:1983.76px;white-space:nowrap">(0.4)%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2510.55px;left:2627.89px;letter-spacing:50.24px;white-space:nowrap">.......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2544.42px;left:9261.64px;white-space:nowrap">(3,131,852)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:432px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:1013.54px;white-space:nowrap">Assets, </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:1780.63px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:2225.46px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:3203.48px;white-space:nowrap">2.6%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:3673.56px;letter-spacing:50.51px;white-space:nowrap">.............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2770.03px;left:9279.22px;white-space:nowrap">20,657,751</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3056.32px;left:432px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3056.32px;left:802.41px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3056.32px;left:1513.93px;white-space:nowrap">100.0%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3056.32px;left:2209.63px;letter-spacing:50.15px;white-space:nowrap">...........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3090.19px;left:9101.25px;white-space:nowrap">$782,017,413</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:3304.47px;left:426.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:3304.47px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:3304.47px;left:10074.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:3390.57px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3468.52px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3468.52px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3660.52px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3468.52px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3660.52px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:3663.73px;left:8012.12px;white-space:nowrap">#</div><div style="font-family:Arial, sans-serif;font-size:116.6px;position:absolute;top:3916.32px;left:406.1px;white-space:nowrap">i</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3912.3px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3912.3px;left:1243.04px;letter-spacing:-0.3px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3912.3px;left:1983.76px;white-space:nowrap">(0.4)% </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:4160.45px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4189.21px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4189.21px;left:858.88px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4189.21px;left:956.61px;white-space:nowrap">Over-the-Counter</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:4435.5px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4464.26px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4464.26px;left:1178.95px;white-space:nowrap">Options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4692.74px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4692.74px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4692.74px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4884.74px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4884.74px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4884.74px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4884.74px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:984.98px;white-space:nowrap">81.20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:2369.52px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:7280.2px;white-space:nowrap">6,752,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:9395.08px;white-space:nowrap">(198,369)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.23px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.23px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.23px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:1936.47px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:2763.58px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:984.98px;white-space:nowrap">85.74 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:2369.52px;white-space:nowrap">9/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:7191.22px;letter-spacing:0px;white-space:nowrap">17,072,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:9484.06px;white-space:nowrap">(53,701)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5853.71px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5853.71px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5853.71px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:576px;white-space:nowrap">109.90 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:1109.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:1471.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:2049.52px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:7191.22px;letter-spacing:0px;white-space:nowrap">26,440,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:9395.08px;white-space:nowrap">(368,168)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.2px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.2px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.2px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6626.2px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6626.2px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6626.2px;left:1936.47px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6626.2px;left:2763.58px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:984.98px;white-space:nowrap">21.10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:2452.25px;white-space:nowrap">9/03/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,203,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:9484.06px;white-space:nowrap">(57,696)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7014.68px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7014.68px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7014.68px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:576px;white-space:nowrap">21.15 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:2043.27px;white-space:nowrap">8/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:7280.2px;white-space:nowrap">4,764,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:9484.06px;white-space:nowrap">(18,457)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7595.17px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7595.17px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7595.17px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:984.98px;white-space:nowrap">22.61 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:2452.25px;white-space:nowrap">10/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,074,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:9484.06px;white-space:nowrap">(29,079)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8175.65px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8175.65px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8175.65px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8367.65px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8367.65px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8367.65px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8367.65px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:984.98px;white-space:nowrap">22.75 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:7280.2px;white-space:nowrap">2,317,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:9484.06px;white-space:nowrap">(82,923)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8756.13px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8756.13px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8756.13px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8948.13px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8948.13px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8948.13px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8948.13px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:984.98px;white-space:nowrap">22.75 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:7280.2px;white-space:nowrap">2,317,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:9484.06px;white-space:nowrap">(82,923)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9336.62px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9336.62px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9336.62px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:576px;white-space:nowrap">23.43 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:2043.27px;white-space:nowrap">8/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:7280.2px;white-space:nowrap">4,955,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:9573.05px;white-space:nowrap">(1,825)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.1px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.1px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.1px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10109.1px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10109.1px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10109.1px;left:2114.28px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:576px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:1029.44px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:1438.42px;white-space:nowrap">24.20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:1883.27px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:2327.72px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10493.1px;left:576px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10493.1px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10493.1px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10493.1px;left:7280.2px;white-space:nowrap">1,716,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10493.1px;left:9706.48px;white-space:nowrap">(953)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.59px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.59px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.59px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11073.59px;left:576px;white-space:nowrap">24.62 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11073.59px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11073.59px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11073.59px;left:2043.27px;white-space:nowrap">8/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11073.59px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11073.59px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11073.59px;left:7280.2px;white-space:nowrap">1,887,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11073.59px;left:9795.47px;white-space:nowrap">(93)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11270.07px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11270.07px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11270.07px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:984.98px;white-space:nowrap">25.33 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:2452.25px;white-space:nowrap">12/28/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:7280.2px;white-space:nowrap">7,140,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.07px;left:9484.06px;white-space:nowrap">(15,077)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:9192px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:7986px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">17</div></div>
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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAUBCAYAAAAiuuKzAAAACXBIWXMAABcRAAAXEQHKJvM/AAAe/0lEQVR4XuzbsXEcMRBFwQtNITAEhaIwEA5DYgarUwTvGzyKy2qjYT0DxtQYqMLjuq4HAAAAwGfIAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGD1OOf8uqG3oQH4DuwrgNexY3mFu83V27nfnfnhHs/jAgAAAPgM/x4a3m/oY2gAvgP7CuB17Fhe4W5z9XHud2d+uPxbAQAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAwD2dc96fLvhKOZgAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAADAPZ1zfj/9ga+UgwkAAMA9HQ8N/Ac5mAAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAA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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:37.63px;left:10068.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:375.31px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;font-weight:bold;position:absolute;top:375.31px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:310.79px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:307.58px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:116.6px;position:absolute;top:597.89px;left:406.1px;white-space:nowrap">i</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:1243.04px;letter-spacing:-0.4px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:627.74px;left:1983.76px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:842.02px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:858.87px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:956.61px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:870.79px;left:2325.59px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1117.07px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1145.83px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2114.28px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2505.69px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:984.98px;white-space:nowrap">25.41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2452.25px;white-space:nowrap">6/09/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,271,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9395.08px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9484.06px;white-space:nowrap">(75,440)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:984.98px;white-space:nowrap">26.61 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:2452.25px;white-space:nowrap">8/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:9706.48px;white-space:nowrap">(329)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:984.98px;white-space:nowrap">27.38 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:2452.25px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:9706.48px;white-space:nowrap">(101)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:984.98px;white-space:nowrap">27.93 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:2452.25px;white-space:nowrap">12/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:7280.2px;white-space:nowrap">3,394,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:9573.05px;white-space:nowrap">(2,051)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:984.98px;white-space:nowrap">34.95 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:7280.2px;white-space:nowrap">1,458,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:9484.06px;white-space:nowrap">(10,856)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:984.98px;white-space:nowrap">34.95 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:7280.2px;white-space:nowrap">1,458,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:9484.06px;white-space:nowrap">(10,856)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4944.5px;left:9261.64px;white-space:nowrap">(1,008,897)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5274.83px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5274.83px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5274.83px;left:920.91px;white-space:nowrap">Over-the-Counter</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5549.87px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5549.87px;left:1178.95px;white-space:nowrap">Options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5778.36px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5778.36px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5778.36px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:984.98px;white-space:nowrap">68.40 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:2369.52px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:7280.2px;white-space:nowrap">6,752,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:9573.05px;white-space:nowrap">(4,507)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6358.84px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6358.84px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6358.84px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:1936.47px;white-space:nowrap">July </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:2265.45px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:2718.89px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:576px;white-space:nowrap">75.90 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:1960.53px;white-space:nowrap">7/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:7280.2px;white-space:nowrap">7,506,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:9795.47px;white-space:nowrap">(62)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.33px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.33px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.33px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7131.33px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7131.33px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7131.33px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7131.33px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:984.98px;white-space:nowrap">78.33 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:2369.52px;white-space:nowrap">12/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:7191.22px;letter-spacing:0px;white-space:nowrap">17,943,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:9484.06px;white-space:nowrap">(98,085)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7519.81px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7519.81px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7519.81px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7711.81px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7711.81px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7711.81px;left:1936.47px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7711.81px;left:2763.58px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:984.98px;white-space:nowrap">80.56 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:2369.52px;white-space:nowrap">9/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:7191.22px;letter-spacing:0px;white-space:nowrap">12,804,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:9484.06px;white-space:nowrap">(51,418)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8100.29px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8100.29px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8100.29px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8292.29px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8292.29px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8292.29px;left:1936.47px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8292.29px;left:2763.58px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:984.98px;white-space:nowrap">82.09 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:2369.52px;white-space:nowrap">9/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:7280.2px;white-space:nowrap">5,686,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:9484.06px;white-space:nowrap">(41,190)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8680.78px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8680.78px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8680.78px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8872.78px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8872.78px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8872.78px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8872.78px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:984.98px;white-space:nowrap">95.85 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:2369.52px;white-space:nowrap">2/23/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:7280.2px;white-space:nowrap">5,966,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:9573.05px;white-space:nowrap">(4,097)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9261.26px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9261.26px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9261.26px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:576px;white-space:nowrap">98.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:1960.53px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:2487.09px;letter-spacing:52.54px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:7280.2px;white-space:nowrap">8,823,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:9795.47px;white-space:nowrap">(26)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9841.75px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9841.75px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9841.75px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:984.98px;white-space:nowrap">19.05 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:2452.25px;white-space:nowrap">10/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:7280.2px;white-space:nowrap">9,967,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:9484.06px;white-space:nowrap">(28,731)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10422.23px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10422.23px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10422.23px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10614.23px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10614.23px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10614.23px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10614.23px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:984.98px;white-space:nowrap">19.32 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:2452.25px;white-space:nowrap">10/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:7191.22px;letter-spacing:0px;white-space:nowrap">18,122,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:9484.06px;white-space:nowrap">(92,591)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11002.72px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11002.72px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11002.72px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11194.72px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11194.72px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11194.72px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11194.72px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:984.98px;white-space:nowrap">19.71 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:2452.25px;white-space:nowrap">10/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,252,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:9395.08px;white-space:nowrap">(131,186)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11583.2px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11583.2px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11583.2px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11775.2px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11775.2px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11775.2px;left:2114.28px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11775.2px;left:2505.69px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:984.98px;white-space:nowrap">19.84 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:2452.25px;white-space:nowrap">6/09/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:7191.22px;letter-spacing:0px;white-space:nowrap">15,407,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:9395.08px;white-space:nowrap">(259,628)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4940.94px;white-space:nowrap">statements.</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">18</div></div>
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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAUCCAYAAACkLpAdAAAACXBIWXMAABcRAAAXEQHKJvM/AAAfGklEQVR4XuzbsW0bQRRFUZbgUlyCSlBpDqcclaQOaBpwfl8gClzhBGejG0zw8YEZYG/3+/0GAAAA8BUyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFjdzjlvF/Q+NACvwL4CeB47lme42ly9n+udmR/u9vjcAQAAAL7Cv4eGjwv6HBqAV2BfATyPHcszXG2uPs/1zswPl/9WAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAA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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:37.63px;left:10068.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:375.31px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;font-weight:bold;position:absolute;top:375.31px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:310.79px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:307.58px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:116.6px;position:absolute;top:597.89px;left:406.1px;white-space:nowrap">i</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:1243.04px;letter-spacing:-0.4px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:627.74px;left:1983.76px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:842.02px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:920.91px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:870.79px;left:2289.89px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1117.07px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1145.83px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:576px;white-space:nowrap">19.86 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2043.27px;white-space:nowrap">8/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:7280.2px;white-space:nowrap">7,433,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9395.08px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9484.06px;white-space:nowrap">(79,080)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:984.98px;white-space:nowrap">19.93 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:7280.2px;white-space:nowrap">2,317,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:9484.06px;white-space:nowrap">(37,978)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:984.98px;white-space:nowrap">19.93 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:7280.2px;white-space:nowrap">2,317,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:9484.06px;white-space:nowrap">(37,978)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:2114.28px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:576px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1029.44px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1438.42px;white-space:nowrap">20.21 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1883.27px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:2327.72px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3691.77px;left:576px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3691.77px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3691.77px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3691.77px;left:7413.64px;white-space:nowrap">858,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3691.77px;left:9484.06px;white-space:nowrap">(18,593)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:984.98px;white-space:nowrap">20.94 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:2452.25px;white-space:nowrap">8/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4272.25px;left:9395.08px;white-space:nowrap">(256,437)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:984.98px;white-space:nowrap">21.43 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:2452.25px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4852.74px;left:9395.08px;white-space:nowrap">(377,988)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:984.98px;white-space:nowrap">22.32 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:7280.2px;white-space:nowrap">2,917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5433.22px;left:9395.08px;white-space:nowrap">(156,006)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:984.98px;white-space:nowrap">22.32 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:7280.2px;white-space:nowrap">2,917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.71px;left:9395.08px;white-space:nowrap">(156,006)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:984.98px;white-space:nowrap">22.32 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:7280.2px;white-space:nowrap">5,448,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6594.19px;left:9395.08px;white-space:nowrap">(291,368)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6877.96px;left:9261.64px;white-space:nowrap">(2,122,955)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7156.97px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7156.97px;left:950.46px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7156.97px;left:1761.49px;letter-spacing:-0.45px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7156.97px;left:2502.21px;white-space:nowrap">(Premiums </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7156.97px;left:3591.47px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7156.97px;left:4458.76px;white-space:nowrap">$4,394,200)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7156.97px;left:5555.75px;letter-spacing:51.52px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7190.84px;left:9172.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7190.84px;left:9261.64px;white-space:nowrap">(3,131,852)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:22.81px;left:0px;white-space:nowrap"># </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:63.81px;white-space:nowrap">Notional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:581.62px;white-space:nowrap">amount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1055.76px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1187.01px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1405.92px;white-space:nowrap">number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1887.25px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2033.19px;white-space:nowrap">units </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2346.86px;text-rendering:optimizeLegibility;white-space:nowrap">specified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2901.23px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:3039.83px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:3258.73px;white-space:nowrap">contract, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:3798.5px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:4053.89px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:4301.94px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:4754.2px;letter-spacing:0px;white-space:nowrap">currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:5293.81px;white-space:nowrap">units, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:5643.97px;white-space:nowrap">bushels, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:6169.2px;white-space:nowrap">shares, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:6636px;white-space:nowrap">pounds, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:7139.44px;white-space:nowrap">barrels </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:7576.94px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:7730.06px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:8065.61px;white-space:nowrap">units. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:8415.76px;white-space:nowrap">Currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:8984.44px;white-space:nowrap">units </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:9298.11px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:9524.2px;white-space:nowrap">stated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:9918.19px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:291.64px;white-space:nowrap">dollars </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:714.61px;white-space:nowrap">unless </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:1130.39px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:1728.36px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:411.3px;left:0px;white-space:nowrap">* </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:49.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:312.27px;white-space:nowrap">principal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:837.35px;white-space:nowrap">amount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:1311.49px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:1442.74px;white-space:nowrap">stated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:1836.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:1975.32px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:2266.96px;white-space:nowrap">dollars </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:2689.93px;white-space:nowrap">unless </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:3105.71px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:3703.68px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:607.78px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:63.81px;white-space:nowrap">Redemption </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:807.72px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:1128.58px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:1274.51px;white-space:nowrap">maturity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:1777.64px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:1908.89px;white-space:nowrap">adjusted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:2441.47px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:2631.08px;text-rendering:optimizeLegibility;white-space:nowrap">inflation. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:3156.31px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:3426.23px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:3739.83px;white-space:nowrap">1(f).</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:804.27px;left:0px;white-space:nowrap">b </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:63.81px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:676.39px;white-space:nowrap">denominated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:1471.55px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:1602.95px;white-space:nowrap">Argentine </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:2201.08px;white-space:nowrap">Peso </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:2536.62px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:2857.64px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:3186px;white-space:nowrap">designated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:3864.51px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:4039.59px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:4389.75px;white-space:nowrap">3 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:4499.2px;letter-spacing:0px;white-space:nowrap">investments. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:5272.33px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:5542.25px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:5855.84px;white-space:nowrap">10 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:6038.26px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:6629.05px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:6847.8px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:7197.95px;white-space:nowrap">measurements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1000.75px;left:0px;white-space:nowrap">c </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:58.21px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:320.79px;white-space:nowrap">coupon </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:787.74px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:1050.32px;white-space:nowrap">shown </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:1466.02px;white-space:nowrap">represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:2122.43px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:2341.33px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:2603.91px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:2749.85px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:3151.02px;white-space:nowrap">end.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1197.24px;left:0px;white-space:nowrap">d </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:63.81px;white-space:nowrap">Security </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:574.28px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:844.05px;white-space:nowrap">purchased </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:1493.26px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2040.37px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2186.31px;white-space:nowrap">Rule </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2492.56px;letter-spacing:-1.44px;white-space:nowrap">144A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2828.26px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2981.39px;white-space:nowrap">Regulation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:3645.14px;white-space:nowrap">S </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:3769.12px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:4141.15px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:4360.06px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:4965.45px;letter-spacing:0px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:5191.55px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:5337.48px;white-space:nowrap">1933. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:5702.33px;letter-spacing:-1.44px;white-space:nowrap">144A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:6038.03px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:6628.73px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:6913.11px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:7095.53px;white-space:nowrap">sold </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:7372.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:7511.31px;white-space:nowrap">transactions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:8255.3px;white-space:nowrap">exempt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:8722.09px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:9021px;white-space:nowrap">registration </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:9706.55px;white-space:nowrap">only </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:145.94px;text-rendering:optimizeLegibility;white-space:nowrap">qualified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:671.17px;white-space:nowrap">institutional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:1364.14px;white-space:nowrap">buyers </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:1794.45px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:1947.58px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:2086.17px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:2195.63px;white-space:nowrap">public </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:2574.92px;letter-spacing:-0.25px;white-space:nowrap">offering </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:3046.8px;white-space:nowrap">registered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:3666.72px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:4038.75px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:4257.66px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:4863.05px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:5089.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:5235.08px;white-space:nowrap">1933. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:5599.92px;white-space:nowrap">Regulation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:6263.67px;white-space:nowrap">S </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:6387.66px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:6978.36px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:7408.83px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:7591.25px;white-space:nowrap">sold </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:7868.44px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:8007.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:8225.94px;white-space:nowrap">United </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:8641.64px;white-space:nowrap">States </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:9050.16px;white-space:nowrap">without </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:9502.34px;white-space:nowrap">either </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:0px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:182.42px;letter-spacing:-0.23px;white-space:nowrap">effective </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:705.39px;white-space:nowrap">registration </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:1390.94px;white-space:nowrap">statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:2003.67px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:2280.86px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:2827.97px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:2973.91px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:3192.81px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:3798.2px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:4024.3px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:4170.23px;white-space:nowrap">1933, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:4535.08px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:4688.2px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:5235.31px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:5381.25px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:5563.67px;white-space:nowrap">exemption </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:6205.55px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:6504.45px;white-space:nowrap">registration. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:7219.3px;white-space:nowrap">At </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:7379.77px;white-space:nowrap">June </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:7700.78px;white-space:nowrap">30, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:7919.69px;white-space:nowrap">2021, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:8284.53px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:8503.44px;white-space:nowrap">aggregate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:9130.86px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:9481.02px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:9626.95px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:590.7px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:860.47px;white-space:nowrap">$84,372,570, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:1663.13px;white-space:nowrap">representing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:2428.98px;white-space:nowrap">10.8% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:2837.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:2983.44px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:3202.34px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1969.72px;left:0px;white-space:nowrap">e </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:59.62px;letter-spacing:-3.59px;white-space:nowrap">A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:176.42px;white-space:nowrap">supranational </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:1000.71px;white-space:nowrap">organization </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:1752.04px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:1883.29px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:2065.71px;white-space:nowrap">entity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:2415.87px;white-space:nowrap">formed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:2860.71px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:3035.79px;white-space:nowrap">two </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:3276.42px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:3429.54px;white-space:nowrap">more </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:3764.93px;white-space:nowrap">central </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:4195.25px;white-space:nowrap">governments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:4990.25px;letter-spacing:0px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:5471.73px;white-space:nowrap">international </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:6223.06px;white-space:nowrap">treaties.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2166.2px;left:0px;white-space:nowrap">f </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:41.22px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:303.8px;white-space:nowrap">security </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:792.39px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:1062.16px;white-space:nowrap">issued </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:1477.94px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:1660.36px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:1769.81px;white-space:nowrap">discount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:2295.05px;white-space:nowrap">basis </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:2637.86px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:2907.63px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:3090.05px;white-space:nowrap">stated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:3484.03px;white-space:nowrap">coupon </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:3950.99px;white-space:nowrap">rate.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2362.69px;left:0px;white-space:nowrap">g </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:63.81px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:333.73px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:647.33px;white-space:nowrap">3(c) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:909.75px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:1500.53px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:2237.17px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:2375.76px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:2901px;white-space:nowrap">management </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:3703.34px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:4374.36px;white-space:nowrap">companies.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2559.17px;left:0px;white-space:nowrap">h </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:62.49px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:325.07px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:587.65px;white-space:nowrap">shown </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:1003.35px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:1134.6px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:1353.51px;white-space:nowrap">annualized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:2024.68px;white-space:nowrap">seven-day </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:2666.55px;letter-spacing:-0.23px;white-space:nowrap">effective </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:3189.52px;white-space:nowrap">yield </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:3495.85px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:3641.79px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:4042.96px;white-space:nowrap">end.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2755.66px;left:0px;white-space:nowrap">i </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:38.26px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:308.18px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:621.77px;white-space:nowrap">1(c) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:884.2px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:1474.98px;white-space:nowrap">written </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:1897.87px;white-space:nowrap">options.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1461.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1761.33px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2221.61px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2571.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2872.18px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3622.59px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4272.8px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5103.46px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5883.75px;white-space:nowrap">outstanding. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6914.53px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7284.81px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7715.04px;white-space:nowrap">1(c).&#160;</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:439.31px;left:0px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:439.31px;left:844.53px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:439.31px;left:1844.92px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:0px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:879.12px;left:1781.44px;white-space:nowrap">Counter-</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:2004.87px;white-space:nowrap">party</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:1074.33px;left:2396.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:2662.44px;letter-spacing:-2.97px;white-space:nowrap">Type</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:4103.09px;white-space:nowrap">Quantity</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:879.12px;left:5390.19px;white-space:nowrap">Contract</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:5381.44px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:5985.73px;white-space:nowrap">*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:879.12px;left:6598.03px;white-space:nowrap">Settlement</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:7069.2px;white-space:nowrap">Date</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:879.12px;left:7902.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:7734.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:879.12px;left:9198.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1071.12px;left:9038.86px;white-space:nowrap">Depreciation</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:1316.22px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:1316.22px;left:2436.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:1316.22px;left:3012.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:1316.22px;left:4740.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:1316.22px;left:6036.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:1316.22px;left:7404.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:1316.22px;left:8772.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:1316.22px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1394.17px;left:0px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1394.17px;left:382.19px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1394.17px;left:1057.81px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1394.17px;left:1858.13px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:3862.23px;white-space:nowrap">597,650,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:5469.64px;white-space:nowrap">822,643</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:6882.17px;white-space:nowrap">7/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:8535.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:9484.06px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1590.65px;left:9573.05px;white-space:nowrap">(8,827)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:3862.23px;white-space:nowrap">597,650,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:5469.64px;white-space:nowrap">805,990</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:6882.17px;white-space:nowrap">7/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1787.14px;left:9573.05px;white-space:nowrap">(7,825)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:3862.23px;white-space:nowrap">732,180,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:5336.2px;white-space:nowrap">1,009,903</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:6882.17px;white-space:nowrap">7/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1983.62px;left:9484.06px;white-space:nowrap">(12,899)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:3862.23px;white-space:nowrap">732,180,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:5469.64px;white-space:nowrap">994,810</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:6882.17px;white-space:nowrap">7/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2180.1px;left:9573.05px;white-space:nowrap">(2,194)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:3728.8px;white-space:nowrap">1,177,130,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:5336.2px;white-space:nowrap">1,623,046</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:6882.17px;white-space:nowrap">7/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2376.59px;left:9484.06px;white-space:nowrap">(20,156)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:3728.8px;white-space:nowrap">1,177,130,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:5336.2px;white-space:nowrap">1,587,456</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:6882.17px;white-space:nowrap">7/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2573.07px;left:9484.06px;white-space:nowrap">(15,434)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:3728.8px;white-space:nowrap">2,054,490,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">2,860,311</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:6882.17px;white-space:nowrap">7/06/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2769.56px;left:9484.06px;white-space:nowrap">(63,031)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:3728.8px;white-space:nowrap">2,054,490,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:5336.2px;white-space:nowrap">2,789,532</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:6882.17px;white-space:nowrap">7/06/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2966.04px;left:9573.05px;white-space:nowrap">(7,749)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:3862.23px;white-space:nowrap">303,271,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:5247.22px;white-space:nowrap">15,291,848</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:6882.17px;white-space:nowrap">7/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3162.53px;left:9484.06px;white-space:nowrap">(90,516)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:3862.23px;white-space:nowrap">303,271,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:5247.22px;white-space:nowrap">14,126,482</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:6882.17px;white-space:nowrap">7/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3359.01px;left:9261.64px;white-space:nowrap">(1,074,850)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:4040.2px;white-space:nowrap">3,749,989</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:5158.23px;white-space:nowrap">312,580,333</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:6882.17px;white-space:nowrap">7/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:8383.61px;white-space:nowrap">2,238</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3555.5px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:3951.22px;white-space:nowrap">96,812,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:5336.2px;white-space:nowrap">1,291,953</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:6882.17px;white-space:nowrap">7/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:8383.61px;white-space:nowrap">8,371</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3751.98px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:3862.23px;white-space:nowrap">317,895,192</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:5336.2px;white-space:nowrap">3,749,989</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:6095.09px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:6882.17px;white-space:nowrap">7/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3948.46px;left:9484.06px;white-space:nowrap">(50,087)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:4040.2px;white-space:nowrap">7,812,696</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:5158.23px;white-space:nowrap">634,777,930</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:6882.17px;white-space:nowrap">7/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:8294.63px;white-space:nowrap">20,046</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4144.95px;left:9395.08px;white-space:nowrap">(163,457)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:4173.64px;white-space:nowrap">252,375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:5469.64px;white-space:nowrap">300,717</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:6882.17px;white-space:nowrap">7/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:8383.61px;white-space:nowrap">1,364</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4341.43px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:3862.23px;white-space:nowrap">661,419,394</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:5336.2px;white-space:nowrap">7,812,696</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:6095.09px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:6882.17px;white-space:nowrap">7/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4537.92px;left:9484.06px;white-space:nowrap">(96,442)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:3951.22px;white-space:nowrap">44,380,340</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:5336.2px;white-space:nowrap">6,800,751</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:6882.17px;white-space:nowrap">7/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:8294.63px;white-space:nowrap">54,751</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4734.4px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:3728.8px;white-space:nowrap">1,357,150,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:5336.2px;white-space:nowrap">1,879,371</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:6882.17px;white-space:nowrap">7/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4930.89px;left:9484.06px;white-space:nowrap">(32,003)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:4040.2px;white-space:nowrap">1,649,223</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:5247.22px;white-space:nowrap">16,857,450</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:6882.17px;white-space:nowrap">7/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:8294.63px;white-space:nowrap">13,860</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5127.37px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:0px;white-space:nowrap">Singapore </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:773.91px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:4040.2px;white-space:nowrap">1,590,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:5336.2px;white-space:nowrap">1,197,262</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:6882.17px;white-space:nowrap">7/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5323.85px;left:9484.06px;white-space:nowrap">(14,916)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:4173.64px;white-space:nowrap">513,907</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:5469.64px;white-space:nowrap">618,256</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:6882.17px;white-space:nowrap">7/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:8383.61px;white-space:nowrap">8,550</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5520.34px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:4262.63px;white-space:nowrap">33,330</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:5558.63px;white-space:nowrap">40,356</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:6882.17px;white-space:nowrap">7/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:8517.05px;white-space:nowrap">807</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5716.82px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:4040.2px;white-space:nowrap">6,880,216</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:5247.22px;white-space:nowrap">10,739,310</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:6095.09px;white-space:nowrap">CAD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:6882.17px;white-space:nowrap">8/03/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:8205.64px;white-space:nowrap">497,244</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5913.31px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:3951.22px;white-space:nowrap">14,125,822</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:5247.22px;white-space:nowrap">21,979,782</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:6095.09px;white-space:nowrap">CAD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:6882.17px;white-space:nowrap">8/03/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:8205.64px;white-space:nowrap">965,103</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.79px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:4040.2px;white-space:nowrap">2,010,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:5336.2px;white-space:nowrap">3,130,042</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:6095.09px;white-space:nowrap">CAD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:6882.17px;white-space:nowrap">8/03/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:8205.64px;white-space:nowrap">139,329</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6306.28px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:3728.8px;white-space:nowrap">4,202,588,554</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:5336.2px;white-space:nowrap">5,850,279</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:6882.17px;white-space:nowrap">8/06/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6502.76px;left:9395.08px;white-space:nowrap">(133,069)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:3951.22px;white-space:nowrap">10,419,412</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:5024.8px;white-space:nowrap">1,371,663,487</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:6882.17px;white-space:nowrap">8/06/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6699.25px;left:9484.06px;white-space:nowrap">(13,967)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:3862.23px;white-space:nowrap">732,180,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:5469.64px;white-space:nowrap">994,296</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:6882.17px;white-space:nowrap">8/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:8383.61px;white-space:nowrap">1,684</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6895.73px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:4040.2px;white-space:nowrap">1,977,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:5158.23px;white-space:nowrap">166,987,305</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:6882.17px;white-space:nowrap">8/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:8294.63px;white-space:nowrap">21,109</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7092.21px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:3862.23px;white-space:nowrap">167,473,647</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:5336.2px;white-space:nowrap">1,977,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:6095.09px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:6882.17px;white-space:nowrap">8/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7288.7px;left:9484.06px;white-space:nowrap">(25,489)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:3951.22px;white-space:nowrap">33,977,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:5336.2px;white-space:nowrap">1,710,094</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:6882.17px;white-space:nowrap">8/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:8294.63px;white-space:nowrap">14,974</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7485.18px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:4040.2px;white-space:nowrap">7,142,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:5336.2px;white-space:nowrap">5,589,901</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:6882.17px;white-space:nowrap">8/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:8205.64px;white-space:nowrap">233,740</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7681.67px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:4040.2px;white-space:nowrap">5,158,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:5336.2px;white-space:nowrap">4,016,380</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:6882.17px;white-space:nowrap">8/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:8205.64px;white-space:nowrap">148,125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7878.15px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:3728.8px;white-space:nowrap">2,394,434,956</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:5336.2px;white-space:nowrap">3,390,879</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:6882.17px;white-space:nowrap">8/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8074.64px;left:9395.08px;white-space:nowrap">(134,342)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:4040.2px;white-space:nowrap">3,180,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:5336.2px;white-space:nowrap">3,799,846</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:6882.17px;white-space:nowrap">8/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8271.12px;left:9484.06px;white-space:nowrap">(25,130)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:4040.2px;white-space:nowrap">5,480,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:5336.2px;white-space:nowrap">6,665,351</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:6882.17px;white-space:nowrap">8/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:8205.64px;white-space:nowrap">160,496</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8467.6px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:4040.2px;white-space:nowrap">2,122,321</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:5247.22px;white-space:nowrap">21,921,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:6882.17px;white-space:nowrap">8/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:8294.63px;white-space:nowrap">27,878</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8664.09px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:3728.8px;white-space:nowrap">2,292,067,510</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:5336.2px;white-space:nowrap">3,239,856</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:6882.17px;white-space:nowrap">8/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8860.57px;left:9395.08px;white-space:nowrap">(122,623)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:3728.8px;white-space:nowrap">4,585,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:5336.2px;white-space:nowrap">6,433,048</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:6882.17px;white-space:nowrap">8/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9057.06px;left:9395.08px;white-space:nowrap">(197,135)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:2006.36px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:3728.8px;white-space:nowrap">1,470,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:5247.22px;white-space:nowrap">19,726,248</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:6882.17px;white-space:nowrap">8/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9253.54px;left:9484.06px;white-space:nowrap">(70,030)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:3639.81px;white-space:nowrap">51,670,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:5247.22px;white-space:nowrap">47,049,718</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:6882.17px;white-space:nowrap">8/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9450.03px;left:9261.64px;white-space:nowrap">(1,333,238)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:3862.23px;white-space:nowrap">150,960,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:5247.22px;white-space:nowrap">23,289,827</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:6882.17px;white-space:nowrap">8/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.51px;left:9484.06px;white-space:nowrap">(31,587)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:3951.22px;white-space:nowrap">22,964,713</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:5158.23px;white-space:nowrap">230,351,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:6882.17px;white-space:nowrap">8/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843px;left:9395.08px;white-space:nowrap">(494,652)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:3862.23px;white-space:nowrap">166,125,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:5336.2px;white-space:nowrap">7,676,969</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:6882.17px;white-space:nowrap">8/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10039.48px;left:9395.08px;white-space:nowrap">(600,514)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:4040.2px;white-space:nowrap">3,539,153</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:5158.23px;white-space:nowrap">454,147,600</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:6882.17px;white-space:nowrap">8/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10235.96px;left:9418.83px;letter-spacing:-2.64px;white-space:nowrap">(111,599)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:3728.8px;white-space:nowrap">1,332,280,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:5247.22px;white-space:nowrap">12,645,579</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:6882.17px;white-space:nowrap">8/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10432.45px;left:9395.08px;white-space:nowrap">(646,865)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:3728.8px;white-space:nowrap">1,332,280,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:5247.22px;white-space:nowrap">12,303,334</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:6882.17px;white-space:nowrap">8/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:8205.64px;white-space:nowrap">304,620</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10628.93px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:4040.2px;white-space:nowrap">1,215,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:5336.2px;white-space:nowrap">1,491,005</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:6882.17px;white-space:nowrap">8/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:8294.63px;white-space:nowrap">48,456</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10825.42px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:3728.8px;white-space:nowrap">3,128,440,047</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:5336.2px;white-space:nowrap">4,297,161</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:6882.17px;white-space:nowrap">9/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11021.9px;left:9484.06px;white-space:nowrap">(44,157)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:3862.23px;white-space:nowrap">173,088,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:5336.2px;white-space:nowrap">8,580,947</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:6882.17px;white-space:nowrap">9/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11218.39px;left:9484.06px;white-space:nowrap">(33,508)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:4040.2px;white-space:nowrap">4,550,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:5336.2px;white-space:nowrap">5,554,541</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:6882.17px;white-space:nowrap">9/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:8205.64px;white-space:nowrap">151,721</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11414.87px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:2006.36px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:4040.2px;white-space:nowrap">1,325,806</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:5336.2px;white-space:nowrap">1,609,194</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:6882.17px;white-space:nowrap">9/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:8294.63px;white-space:nowrap">34,713</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11611.35px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:3862.23px;white-space:nowrap">264,184,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:5336.2px;white-space:nowrap">3,512,204</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:6882.17px;white-space:nowrap">9/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:8306.5px;letter-spacing:-1.98px;white-space:nowrap">11,480</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11807.84px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:3862.23px;white-space:nowrap">256,676,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:5336.2px;white-space:nowrap">3,413,474</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:6882.17px;white-space:nowrap">9/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:8383.61px;white-space:nowrap">9,621</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12004.32px;left:9920px;white-space:nowrap">&#8212;</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12269px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

















































































































































































































































































































































































































































































































			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:0px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:844.53px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:1844.92px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:82.14px;left:2833.98px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:0px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:1781.44px;white-space:nowrap">Counter-</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2004.87px;white-space:nowrap">party</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:537.83px;left:2396.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2662.44px;letter-spacing:-2.97px;white-space:nowrap">Type</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:4103.09px;white-space:nowrap">Quantity</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:5390.19px;white-space:nowrap">Contract</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:5381.44px;white-space:nowrap">Amount*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:6598.03px;white-space:nowrap">Settlement</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7069.2px;white-space:nowrap">Date</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:7902.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7734.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:9198.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:9038.86px;white-space:nowrap">Depreciation</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:2436.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:3012.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:4740.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:6036.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:7404.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:8772.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:0px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:382.19px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1057.81px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1858.13px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:857.67px;left:2649.38px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:3862.23px;white-space:nowrap">106,826,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:5336.2px;white-space:nowrap">1,429,457</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:6882.17px;white-space:nowrap">9/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8535.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9484.06px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9573.05px;white-space:nowrap">(4,797)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:3862.23px;white-space:nowrap">230,576,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:5359.95px;letter-spacing:-2.64px;white-space:nowrap">3,111,060</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:6882.17px;white-space:nowrap">9/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:9484.06px;white-space:nowrap">(36,438)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:3862.23px;white-space:nowrap">129,170,830</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:5336.2px;white-space:nowrap">1,245,837</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:6882.17px;white-space:nowrap">9/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:9484.06px;white-space:nowrap">(82,333)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:3862.23px;white-space:nowrap">129,170,830</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:5336.2px;white-space:nowrap">1,182,601</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:6882.17px;white-space:nowrap">9/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:8294.63px;white-space:nowrap">19,098</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2030.03px;letter-spacing:-4.41px;white-space:nowrap">BOFA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:3951.22px;white-space:nowrap">87,762,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:5247.22px;white-space:nowrap">13,663,317</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:6882.17px;white-space:nowrap">9/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:9395.08px;white-space:nowrap">(163,325)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:3862.23px;white-space:nowrap">135,663,370</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:5270.97px;letter-spacing:-2.37px;white-space:nowrap">21,118,611</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:6882.17px;white-space:nowrap">9/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:9395.08px;white-space:nowrap">(250,404)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:2030.03px;letter-spacing:-4.41px;white-space:nowrap">BOFA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:3862.23px;white-space:nowrap">105,222,910</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:5247.22px;white-space:nowrap">16,356,740</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:6882.17px;white-space:nowrap">9/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:9395.08px;white-space:nowrap">(174,585)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:3951.22px;white-space:nowrap">97,083,330</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:5336.2px;white-space:nowrap">1,314,744</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:6882.17px;white-space:nowrap">9/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:9484.06px;white-space:nowrap">(20,856)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:3862.23px;white-space:nowrap">244,569,190</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:5336.2px;white-space:nowrap">2,234,284</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:6882.17px;white-space:nowrap">9/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:9484.06px;white-space:nowrap">(31,247)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:3728.8px;white-space:nowrap">4,229,800,151</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:5336.2px;white-space:nowrap">5,828,621</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:6882.17px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:9484.06px;white-space:nowrap">(80,906)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:4052.08px;letter-spacing:-1.32px;white-space:nowrap">2,457,711</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:5247.22px;white-space:nowrap">25,292,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:6882.17px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:8294.63px;white-space:nowrap">38,528</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:4040.2px;white-space:nowrap">2,482,910</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:5247.22px;white-space:nowrap">26,731,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:6882.17px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:8205.64px;white-space:nowrap">157,696</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:3862.23px;white-space:nowrap">304,702,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:5247.22px;white-space:nowrap">15,273,946</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:6882.17px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:8205.64px;white-space:nowrap">156,222</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:9484.06px;white-space:nowrap">(17,612)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:4040.2px;white-space:nowrap">2,073,343</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:5247.22px;white-space:nowrap">21,071,804</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:6882.17px;white-space:nowrap">9/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:8383.61px;white-space:nowrap">1,486</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:4040.2px;white-space:nowrap">6,333,820</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:5247.22px;white-space:nowrap">64,197,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:6882.17px;white-space:nowrap">9/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:9484.06px;white-space:nowrap">(62,005)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:3951.22px;white-space:nowrap">10,627,070</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:5181.98px;letter-spacing:-2.16px;white-space:nowrap">111,598,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:6882.17px;white-space:nowrap">9/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:8205.64px;white-space:nowrap">346,595</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:0px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:809.3px;white-space:nowrap">Krone</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:1307.78px;letter-spacing:55.3px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:3951.22px;white-space:nowrap">21,921,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:5336.2px;white-space:nowrap">2,521,417</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:6882.17px;white-space:nowrap">9/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:8294.63px;white-space:nowrap">26,389</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:0px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:809.3px;white-space:nowrap">Krone</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:1307.78px;letter-spacing:55.3px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:3951.22px;white-space:nowrap">21,921,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:5336.2px;white-space:nowrap">2,574,361</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:6882.17px;white-space:nowrap">9/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:8294.63px;white-space:nowrap">26,555</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:3728.8px;white-space:nowrap">1,791,490,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:5247.22px;white-space:nowrap">17,367,144</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:6882.17px;white-space:nowrap">9/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:9261.64px;white-space:nowrap">(1,228,435)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:3728.8px;white-space:nowrap">1,791,490,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:5247.22px;white-space:nowrap">16,402,586</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:6882.17px;white-space:nowrap">9/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:8205.64px;white-space:nowrap">263,876</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:0px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:364.53px;white-space:nowrap">Zealand </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:987.19px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:1494.61px;letter-spacing:67.98px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:2030.03px;letter-spacing:-4.41px;white-space:nowrap">BOFA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:4040.2px;white-space:nowrap">3,690,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:5336.2px;white-space:nowrap">2,616,256</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:6882.17px;white-space:nowrap">9/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:9484.06px;white-space:nowrap">(37,990)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:0px;white-space:nowrap">Russian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:622.5px;white-space:nowrap">Ruble</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:1120.96px;letter-spacing:52.76px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:3862.23px;white-space:nowrap">146,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:5336.2px;white-space:nowrap">1,927,240</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:6882.17px;white-space:nowrap">9/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:8294.63px;white-space:nowrap">43,408</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:3728.8px;white-space:nowrap">2,376,190,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:5336.2px;white-space:nowrap">3,201,462</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:6882.17px;white-space:nowrap">9/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:8294.63px;white-space:nowrap">26,529</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:3862.23px;white-space:nowrap">615,040,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:5469.64px;white-space:nowrap">838,386</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:6882.17px;white-space:nowrap">9/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:9573.05px;white-space:nowrap">(3,002)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:3963.09px;letter-spacing:-1.19px;white-space:nowrap">11,903,968</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:5024.8px;white-space:nowrap">1,575,978,284</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:6882.17px;white-space:nowrap">9/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:8294.63px;white-space:nowrap">54,694</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:4040.2px;white-space:nowrap">3,304,612</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:5247.22px;white-space:nowrap">33,750,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:6882.17px;white-space:nowrap">9/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:9573.05px;white-space:nowrap">(3,648)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:3728.8px;white-space:nowrap">3,782,900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:5336.2px;white-space:nowrap">5,285,530</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:6882.17px;white-space:nowrap">9/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:9395.08px;white-space:nowrap">(147,536)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:4040.2px;white-space:nowrap">9,524,222</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:5247.22px;white-space:nowrap">96,187,025</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:6882.17px;white-space:nowrap">9/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:9395.08px;white-space:nowrap">(136,708)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:3862.23px;white-space:nowrap">151,635,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:5336.2px;white-space:nowrap">7,564,377</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:6793.19px;white-space:nowrap">10/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:8294.63px;white-space:nowrap">49,034</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:3728.8px;white-space:nowrap">2,054,490,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:5336.2px;white-space:nowrap">2,785,787</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:6793.19px;white-space:nowrap">10/04/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:8383.61px;white-space:nowrap">4,247</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:4040.2px;white-space:nowrap">8,814,402</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:5247.22px;white-space:nowrap">90,410,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:6793.19px;white-space:nowrap">10/06/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:8205.64px;white-space:nowrap">100,670</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:4040.2px;white-space:nowrap">1,245,994</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:5247.22px;white-space:nowrap">12,643,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:6793.19px;white-space:nowrap">10/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:9573.05px;white-space:nowrap">(2,016)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:4040.2px;white-space:nowrap">1,245,613</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:5247.22px;white-space:nowrap">12,643,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:6793.19px;white-space:nowrap">10/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:9573.05px;white-space:nowrap">(1,581)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:4040.2px;white-space:nowrap">6,370,447</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:5247.22px;white-space:nowrap">64,197,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:6793.19px;white-space:nowrap">10/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:9406.95px;letter-spacing:-1.32px;white-space:nowrap">(112,514)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:0px;white-space:nowrap">Singapore </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:773.91px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:4040.2px;white-space:nowrap">2,010,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:5336.2px;white-space:nowrap">1,505,793</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:6793.19px;white-space:nowrap">10/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:9495.94px;letter-spacing:-1.48px;white-space:nowrap">(11,175)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:4040.2px;white-space:nowrap">7,080,070</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:5158.23px;white-space:nowrap">893,186,201</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:6793.19px;white-space:nowrap">10/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:9395.08px;white-space:nowrap">(367,559)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:0px;white-space:nowrap">Singapore </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:773.91px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:4040.2px;white-space:nowrap">1,600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:5336.2px;white-space:nowrap">1,204,366</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:6793.19px;white-space:nowrap">10/26/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:9484.06px;white-space:nowrap">(14,622)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:3862.23px;white-space:nowrap">151,635,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:5336.2px;white-space:nowrap">7,532,063</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:8294.63px;white-space:nowrap">49,512</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:4040.2px;white-space:nowrap">7,355,261</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:5247.22px;white-space:nowrap">10,993,872</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:6095.09px;white-space:nowrap">CAD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/03/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:8205.64px;white-space:nowrap">121,350</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:3862.23px;white-space:nowrap">192,009,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:5336.2px;white-space:nowrap">2,520,807</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:8294.63px;white-space:nowrap">19,665</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:4040.2px;white-space:nowrap">7,134,989</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:5336.2px;white-space:nowrap">5,519,271</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:8205.64px;white-space:nowrap">166,169</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:3951.22px;white-space:nowrap">19,217,155</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:5158.23px;white-space:nowrap">195,678,681</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:8294.63px;white-space:nowrap">41,010</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:4040.2px;white-space:nowrap">5,480,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:5336.2px;white-space:nowrap">6,646,034</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:8205.64px;white-space:nowrap">127,178</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:3951.22px;white-space:nowrap">14,358,818</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:5158.23px;white-space:nowrap">145,630,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:9484.06px;white-space:nowrap">(37,081)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:4040.2px;white-space:nowrap">7,190,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:5336.2px;white-space:nowrap">5,553,793</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:8205.64px;white-space:nowrap">159,394</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:4040.2px;white-space:nowrap">5,480,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:5336.2px;white-space:nowrap">6,641,130</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:8217.52px;letter-spacing:-1.7px;white-space:nowrap">122,114</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:3951.22px;white-space:nowrap">17,151,764</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:5247.22px;white-space:nowrap">25,310,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:6095.09px;white-space:nowrap">CAD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:8306.5px;letter-spacing:-1.98px;white-space:nowrap">11,026</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:4040.2px;white-space:nowrap">2,107,379</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:5336.2px;white-space:nowrap">2,580,317</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:6805.06px;letter-spacing:-1.48px;white-space:nowrap">11/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:8294.63px;white-space:nowrap">73,008</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:4040.2px;white-space:nowrap">3,343,435</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:5247.22px;white-space:nowrap">33,714,869</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:6793.19px;white-space:nowrap">12/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:9484.06px;white-space:nowrap">(32,622)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:3951.22px;white-space:nowrap">16,868,120</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:5336.2px;white-space:nowrap">2,606,766</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:6793.19px;white-space:nowrap">12/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:9484.06px;white-space:nowrap">(29,089)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:4040.2px;white-space:nowrap">8,443,090</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:5247.22px;white-space:nowrap">85,425,497</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:6793.19px;white-space:nowrap">12/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:9484.06px;white-space:nowrap">(49,210)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:4040.2px;white-space:nowrap">1,076,576</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:5247.22px;white-space:nowrap">10,890,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:6793.19px;white-space:nowrap">12/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:9573.05px;white-space:nowrap">(6,592)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:3728.8px;white-space:nowrap">1,604,400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:5247.22px;white-space:nowrap">21,373,761</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:6793.19px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:9395.08px;white-space:nowrap">(251,339)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:0px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:364.53px;white-space:nowrap">Zealand </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:987.19px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:1494.61px;letter-spacing:67.98px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:3951.22px;white-space:nowrap">12,160,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:5336.2px;white-space:nowrap">8,674,470</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:6793.19px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:9395.08px;white-space:nowrap">(182,121)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:0px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:364.53px;white-space:nowrap">Zealand </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:987.19px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:1494.61px;letter-spacing:67.98px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:4040.2px;white-space:nowrap">4,340,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:5336.2px;white-space:nowrap">3,075,541</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:6793.19px;white-space:nowrap">12/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:9484.06px;white-space:nowrap">(44,571)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:0px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:364.53px;white-space:nowrap">Zealand </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:987.19px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:1494.61px;letter-spacing:67.98px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:4040.2px;white-space:nowrap">4,340,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:5336.2px;white-space:nowrap">3,068,341</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:6793.19px;white-space:nowrap">12/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:9484.06px;white-space:nowrap">(37,371)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:0px;white-space:nowrap">Chilean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:587.03px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:3728.8px;white-space:nowrap">2,473,070,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:5336.2px;white-space:nowrap">3,342,444</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:6793.19px;white-space:nowrap">12/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:8294.63px;white-space:nowrap">13,074</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:9573.05px;white-space:nowrap">(6,825)</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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style="background-image:url(data:image/png;base64,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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3637.21px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3637.21px;left:269.92px;white-space:nowrap">Note&#160;9&#160;regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3637.21px;left:1283.75px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3637.21px;left:1619.3px;white-space:nowrap">derivative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3637.21px;left:2217.34px;white-space:nowrap">information.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:0px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:844.53px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:1844.92px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:82.14px;left:2833.98px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:0px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:1781.44px;white-space:nowrap">Counter-</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2004.87px;white-space:nowrap">party</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:537.83px;left:2396.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2662.44px;letter-spacing:-2.97px;white-space:nowrap">Type</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:4103.09px;white-space:nowrap">Quantity</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:5390.19px;white-space:nowrap">Contract</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:5381.44px;white-space:nowrap">Amount*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:6598.03px;white-space:nowrap">Settlement</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7069.2px;white-space:nowrap">Date</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:7902.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7734.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:9198.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:9038.86px;white-space:nowrap">Depreciation</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:2436.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:3012.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:4740.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:6036.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:7404.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:8772.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:0px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:382.19px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1057.81px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1858.13px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:857.67px;left:2649.38px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:3862.23px;white-space:nowrap">263,438,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:5336.2px;white-space:nowrap">3,412,860</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:6882.17px;white-space:nowrap">1/27/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8205.64px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8294.63px;white-space:nowrap">37,985</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9831.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:4040.2px;white-space:nowrap">2,498,423</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:5247.22px;white-space:nowrap">25,262,800</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:6882.17px;white-space:nowrap">6/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:9484.06px;white-space:nowrap">(23,667)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:4040.2px;white-space:nowrap">2,619,465</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:5247.22px;white-space:nowrap">26,672,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:6882.17px;white-space:nowrap">6/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:9484.06px;white-space:nowrap">(41,058)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:4040.2px;white-space:nowrap">4,004,606</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:5247.22px;white-space:nowrap">40,777,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:6882.17px;white-space:nowrap">6/16/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:9484.06px;white-space:nowrap">(62,868)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:4040.2px;white-space:nowrap">3,490,223</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:5247.22px;white-space:nowrap">35,735,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:6882.17px;white-space:nowrap">6/20/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:9484.06px;white-space:nowrap">(32,864)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:4063.95px;letter-spacing:-2.64px;white-space:nowrap">3,111,992</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:5247.22px;white-space:nowrap">32,042,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:6882.17px;white-space:nowrap">6/21/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:9573.05px;white-space:nowrap">(8,655)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2265.06px;left:144px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2265.06px;left:526.42px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2265.06px;left:1157.67px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2265.06px;left:1913.77px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2265.06px;left:2615.57px;letter-spacing:50.12px;white-space:nowrap">...................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2265.06px;left:7983.22px;white-space:nowrap">$5,136,792</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2265.06px;left:9172.66px;white-space:nowrap">$(9,515,518)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2525.54px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2525.54px;left:581.44px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2525.54px;left:1364.17px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2525.54px;left:2280.34px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2525.54px;left:3269.46px;letter-spacing:50.31px;white-space:nowrap">............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2525.54px;left:9172.66px;white-space:nowrap">$(4,378,726)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:3040.38px;left:0px;white-space:nowrap">*</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3036.16px;left:79.75px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3036.16px;left:225.69px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3036.16px;left:517.33px;white-space:nowrap">dollars </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3036.16px;left:940.3px;white-space:nowrap">unless </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3036.16px;left:1356.08px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3036.16px;left:1954.05px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:3251.43px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:92.55px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:376.93px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:559.35px;white-space:nowrap">comprised </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:1201.07px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:1347px;white-space:nowrap">multiple </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:1835.6px;white-space:nowrap">contracts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:2404.5px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:2674.27px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:2893.18px;white-space:nowrap">same </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:3250.52px;letter-spacing:-0.69px;white-space:nowrap">counterparty, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:4043.25px;white-space:nowrap">currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:4582.86px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:4838.25px;letter-spacing:0px;white-space:nowrap">settlement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3247.21px;left:5480.13px;white-space:nowrap">date.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:262.73px;white-space:nowrap">Abbreviations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1094.22px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1276.64px;white-space:nowrap">page </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1605px;white-space:nowrap">36</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1750.94px;white-space:nowrap">.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1257.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1532.07px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2384.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2890.6px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:0px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:440.33px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:740.57px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:1191.01px;white-space:nowrap">(unaudited)</div></div>
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				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:1196px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4940.94px;white-space:nowrap">statements.</div></div>
		</div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">22</div></div>
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		<div style="background-color:transparent;height:13px;left:66px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9282.97px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:8977.58px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9519.84px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:9689.06px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:746.96px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:949.44px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:949.44px;left:1051.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:949.44px;left:1220.02px;white-space:nowrap">securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:288px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:661.44px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:759.17px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:1604.09px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:9101.25px;white-space:nowrap">$799,634,513</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:288px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:661.44px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:759.17px;white-space:nowrap">Non-controlled </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:1844.17px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:2475.58px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:2911.28px;white-space:nowrap">3c)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:3176.05px;letter-spacing:49.67px;white-space:nowrap">........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:9279.22px;white-space:nowrap">33,414,069</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:288px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:729.8px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:827.53px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:1672.45px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:9101.25px;white-space:nowrap">$731,077,445</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:288px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:729.8px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:827.53px;white-space:nowrap">Non-controlled </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:1912.53px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:2543.94px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:2979.64px;white-space:nowrap">3c)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:3269.46px;letter-spacing:49.68px;white-space:nowrap">.......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:9279.22px;white-space:nowrap">33,414,069</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2043.32px;left:144px;white-space:nowrap">Cash</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2043.32px;left:560.48px;letter-spacing:49.43px;white-space:nowrap">....................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2043.32px;left:9501.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:144px;white-space:nowrap">Restricted </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:908.69px;letter-spacing:-1.19px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:1599.23px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:1777.13px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:2204.08px;white-space:nowrap">(cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:2595.25px;white-space:nowrap">$763) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:3048.92px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:3484.63px;white-space:nowrap">1d)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:3736.52px;letter-spacing:49.76px;white-space:nowrap">..................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:9813.05px;white-space:nowrap">763</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:144px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:730.95px;letter-spacing:-1.19px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:1421.5px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:1599.39px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:2026.34px;white-space:nowrap">(cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:2417.52px;white-space:nowrap">$10,207,779)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:3362.87px;letter-spacing:49.7px;white-space:nowrap">......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:9368.2px;white-space:nowrap">9,553,462</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2650.77px;left:144px;white-space:nowrap">Receivables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:288px;white-space:nowrap">Dividends </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:1035.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:1346.44px;white-space:nowrap">interest</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:1961.68px;letter-spacing:49.54px;white-space:nowrap">.....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:9279.22px;white-space:nowrap">10,433,929</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3055.74px;left:288px;white-space:nowrap">Deposits </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3055.74px;left:954.95px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3055.74px;left:1283.94px;white-space:nowrap">brokers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3055.74px;left:1861.91px;white-space:nowrap">for:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:432px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:814.19px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:1543.41px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:9368.2px;white-space:nowrap">6,325,375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:144px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:953.3px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:1869.47px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:2091.89px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:2474.08px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:3052.05px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:3790.41px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:4483.83px;letter-spacing:49.91px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:9368.2px;white-space:nowrap">5,136,792</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3692.19px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3692.19px;left:958.42px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3692.19px;left:1494.61px;letter-spacing:49.5px;white-space:nowrap">..........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3692.19px;left:9190.23px;white-space:nowrap">796,241,835</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3923.68px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4126.16px;left:144px;white-space:nowrap">Payables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:288px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:1266.36px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:9501.64px;white-space:nowrap">419,192</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:288px;letter-spacing:-0.59px;white-space:nowrap">Trustees&#39; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:979.48px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:1326.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:1637.77px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:9590.63px;white-space:nowrap">22,602</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:144px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:739.86px;white-space:nowrap">written, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:1300.02px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:1477.91px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:1904.86px;white-space:nowrap">(premiums </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:2704.94px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:3354.16px;white-space:nowrap">$4,394,200)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:4297px;letter-spacing:49.87px;white-space:nowrap">............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:9368.2px;white-space:nowrap">3,131,852</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:144px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:953.3px;white-space:nowrap">depreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:1869.47px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:2091.89px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:2474.08px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:3052.05px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:3790.41px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:4483.83px;letter-spacing:49.91px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:9368.2px;white-space:nowrap">9,515,518</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5138.58px;left:144px;white-space:nowrap">Deferred </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5138.58px;left:810.95px;white-space:nowrap">tax</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5138.58px;left:1027.54px;letter-spacing:49.46px;white-space:nowrap">...............................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5138.58px;left:9501.64px;white-space:nowrap">285,369</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:144px;white-space:nowrap">Accrued </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:775.41px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:1504.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:1816.19px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:2225.33px;white-space:nowrap">liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:2895.81px;letter-spacing:49.64px;white-space:nowrap">...........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:9501.64px;white-space:nowrap">849,889</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5572.55px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5572.55px;left:958.42px;white-space:nowrap">liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5572.55px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5572.55px;left:9279.22px;white-space:nowrap">14,224,422</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:864px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:1157.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:1708.77px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:1886.66px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:9101.25px;white-space:nowrap">$782,017,413</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.98px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.98px;left:293.44px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.98px;left:800.31px;white-space:nowrap">consist </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.98px;left:1342.73px;white-space:nowrap">of:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6470.46px;left:144px;white-space:nowrap">Paid-in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6470.46px;left:686.5px;white-space:nowrap">capital</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6470.46px;left:1214.37px;letter-spacing:49.48px;white-space:nowrap">.............................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6470.46px;left:9101.25px;white-space:nowrap">$987,421,362</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:144px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:526.42px;white-space:nowrap">distributable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:1433.61px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:2091.81px;white-space:nowrap">(losses)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:9083.67px;white-space:nowrap">(205,403,949)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:864px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:1157.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:1708.77px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:1886.66px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:9101.25px;white-space:nowrap">$782,017,413</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7164.92px;left:144px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7164.92px;left:695.41px;white-space:nowrap">outstanding</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7164.92px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7164.92px;left:9190.23px;white-space:nowrap">134,144,158</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:437.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:864.31px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:1291.27px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:1566.97px;white-space:nowrap">share</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:2055.09px;letter-spacing:49.55px;white-space:nowrap">....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:9679.61px;white-space:nowrap">$5.83</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:26px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:432px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8272.39px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9109.27px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
		</div>
		<div style="height:40px;left:54px;position:absolute;top:78px;width:504px">
			<div style="width:10080px;height:702px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1257.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1546.42px;white-space:nowrap">Operations</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:560.3px;white-space:nowrap">six </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:830.3px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:1470.59px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2021.13px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2461.46px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2761.7px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:3212.14px;white-space:nowrap">(unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
		</div>
		<div style="height:30px;left:54px;position:absolute;top:739px;width:459px">
			<div style="width:9192px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:7986px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">23</div></div>
		</div>
		<div style="background-color:transparent;height:13px;left:527px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12258px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">





































































			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9282.97px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:8977.58px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9519.84px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:9689.06px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:746.96px;left:0px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:746.96px;left:827.03px;white-space:nowrap">income:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:949.44px;left:144px;white-space:nowrap">Dividends: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:288px;white-space:nowrap">Non-controlled </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:1373px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2004.41px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2440.11px;white-space:nowrap">3c)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:9590.63px;white-space:nowrap">$1,645</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:144px;white-space:nowrap">Interest: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:766.5px;white-space:nowrap">(net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:1086.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:1264.55px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:1798.22px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:2225.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:2402.98px;white-space:nowrap">$730,513)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1556.89px;left:288px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1556.89px;left:1132.92px;white-space:nowrap">issuers:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Inflation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:1036.84px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:1677.16px;white-space:nowrap">adjustments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:2615.57px;letter-spacing:49.6px;white-space:nowrap">..............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:9368.2px;white-space:nowrap">2,791,615</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:432px;white-space:nowrap">Paid </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:796.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:965.67px;white-space:nowrap">cash</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1965.07px;left:1303.64px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:9279.22px;white-space:nowrap">15,963,506</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:814.42px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:1632.55px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:9279.22px;white-space:nowrap">18,756,766</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.83px;left:0px;white-space:nowrap">Expenses:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:144px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:1122.36px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:1469.23px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:1904.94px;white-space:nowrap">3a)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:9368.2px;white-space:nowrap">2,558,559</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:144px;letter-spacing:-0.66px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:778.22px;white-space:nowrap">agent </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:1223.06px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:9368.2px;white-space:nowrap">1,094,929</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:144px;white-space:nowrap">Custodian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:908.92px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:1214.37px;letter-spacing:49.48px;white-space:nowrap">.............................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:9590.63px;white-space:nowrap">93,042</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:144px;white-space:nowrap">Reports </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:748.69px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:926.58px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:9590.63px;white-space:nowrap">55,624</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:144px;white-space:nowrap">Registration </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:1042.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:1353.61px;text-rendering:optimizeLegibility;white-space:nowrap">filing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:1727.13px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:2055.09px;letter-spacing:49.55px;white-space:nowrap">....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:9590.63px;white-space:nowrap">65,242</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3639.74px;left:144px;white-space:nowrap">Professional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3639.74px;left:1068.92px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3639.74px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3639.74px;left:9590.63px;white-space:nowrap">59,047</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:144px;letter-spacing:-0.59px;white-space:nowrap">Trustees&#39; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:835.48px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:1182.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:1493.77px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:9590.63px;white-space:nowrap">73,572</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4044.71px;left:144px;white-space:nowrap">Other</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4044.71px;left:560.48px;letter-spacing:49.43px;white-space:nowrap">....................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4044.71px;left:9590.63px;white-space:nowrap">21,541</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4247.19px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4247.19px;left:814.42px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4247.19px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4247.19px;left:9368.2px;white-space:nowrap">4,021,556</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:432px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:1179.11px;white-space:nowrap">waived/paid </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:2068.56px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:2282px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:2913.41px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:3349.11px;white-space:nowrap">3c)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:3643.11px;letter-spacing:49.74px;white-space:nowrap">...................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:9484.06px;white-space:nowrap">(20,275)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4681.16px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4681.16px;left:869.44px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4681.16px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4681.16px;left:9368.2px;white-space:nowrap">4,001,281</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:720px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:1013.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:1831.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:2428.74px;letter-spacing:49.58px;white-space:nowrap">................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:9279.22px;white-space:nowrap">14,755,485</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:0px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:667.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:978.44px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:1761.17px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:2188.13px;white-space:nowrap">(losses):</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:1042.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:1389.16px;white-space:nowrap">(loss) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:1824.7px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:288px;white-space:nowrap">Investments: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:1239.48px;white-space:nowrap">(net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:1559.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:1737.53px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:2271.2px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:2698.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:2875.97px;white-space:nowrap">$5,206)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5896.58px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5896.58px;left:1276.92px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5896.58px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5896.58px;left:9172.66px;white-space:nowrap">(19,245,289)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6099.07px;left:288px;letter-spacing:-0.36px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6099.07px;left:836.28px;white-space:nowrap">options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6099.07px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6099.07px;left:9501.64px;white-space:nowrap">273,464</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:288px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:874.95px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:1532.92px;white-space:nowrap">transactions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:2428.74px;letter-spacing:49.58px;white-space:nowrap">................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:9501.64px;white-space:nowrap">777,862</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:288px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:919.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:1657.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:9172.66px;white-space:nowrap">(18,708,427)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6735.52px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6735.52px;left:869.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6735.52px;left:1474.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6735.52px;left:1821.16px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6735.52px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6735.52px;left:9172.66px;white-space:nowrap">(36,902,390)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6967px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6967px;left:437.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6967px;left:1006.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6967px;left:1175.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6967px;left:1958.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6967px;left:2874.7px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6967px;left:3897.44px;white-space:nowrap">on:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7169.49px;left:288px;white-space:nowrap">Investments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.97px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.97px;left:1276.92px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.97px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.97px;left:9261.64px;white-space:nowrap">(8,032,642)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:288px;letter-spacing:-0.49px;white-space:nowrap">Translation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:1118px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:1295.89px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:1705.03px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:2211.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:2523.31px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:3172.45px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:4142.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:4311.05px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:4844.72px;white-space:nowrap">currencies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:5604.79px;letter-spacing:50.29px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:9395.08px;white-space:nowrap">(769,551)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:288px;letter-spacing:-0.36px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:836.28px;white-space:nowrap">options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:9368.2px;white-space:nowrap">1,323,835</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:288px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:919.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:1657.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:9279.22px;white-space:nowrap">13,571,272</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:288px;white-space:nowrap">Change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:892.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:1061.91px;white-space:nowrap">deferred </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:1702.3px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:2129.17px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:2351.59px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:3134.33px;white-space:nowrap">appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:4016.76px;letter-spacing:49.81px;white-space:nowrap">...............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:9590.63px;white-space:nowrap">18,297</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8413.39px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8413.39px;left:869.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8413.39px;left:1438.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8413.39px;left:1607.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8413.39px;left:2390.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8413.39px;left:3306.7px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8413.39px;left:4297px;letter-spacing:49.87px;white-space:nowrap">............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8413.39px;left:9403.83px;letter-spacing:-3.96px;white-space:nowrap">6,111,211</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8673.88px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8673.88px;left:293.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8673.88px;left:898.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8673.88px;left:1209.61px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8673.88px;left:1992.34px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8673.88px;left:2339.3px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8673.88px;left:2802.39px;letter-spacing:49.62px;white-space:nowrap">............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8673.88px;left:9172.66px;white-space:nowrap">(30,791,179)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:293.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:942.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:1751.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:1920.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:2187.73px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:2694.61px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:3343.83px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:3708.28px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:4483.83px;letter-spacing:49.91px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.36px;left:9083.67px;white-space:nowrap">$(16,035,694)</div></div>
		</div>
		<div style="height:18px;left:54px;position:absolute;top:718px;width:504px">
			<div style="width:10080px;height:196px;position:absolute;top:3.04px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:22.81px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:42.54px;white-space:nowrap">Includes</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:567.77px;white-space:nowrap">amortization </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1318.95px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1464.88px;white-space:nowrap">premium </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2011.68px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2267.07px;white-space:nowrap">accretion </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2835.98px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2981.92px;white-space:nowrap">discount.</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:36px;position:absolute;top:32px;width:503px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:836.88px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
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		<div style="height:39px;left:36px;position:absolute;top:77px;width:503px">
			<div style="width:10080px;height:684px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Statements </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1387.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1676.42px;white-space:nowrap">Changes </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2789.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3064.01px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3526.5px;white-space:nowrap">Assets</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:30px;left:82px;position:absolute;top:739px;width:458px">
			<div style="width:9164px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:1196px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4940.94px;white-space:nowrap">statements.</div></div>
		</div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">24</div></div>
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		<div style="background-color:transparent;height:13px;left:66px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div 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			<div style="width:10080px;height:12258px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">




































			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7162.35px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:8003.84px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:8546.1px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9150.71px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:6965.28px;white-space:nowrap">Six </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:7249.89px;white-space:nowrap">Months </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:7863.09px;white-space:nowrap">Ended</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:7311.3px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:7729.19px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:7996.06px;white-space:nowrap">2021</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:697.5px;left:7481.06px;white-space:nowrap">(unaudited)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:9208.52px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:9591.09px;white-space:nowrap">Ended</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:697.5px;left:8638.98px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:697.5px;left:9457.19px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:697.5px;left:9724.06px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:0px;white-space:nowrap">Increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:658.13px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:1467.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:1636.33px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:1903.2px;white-space:nowrap">assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1209.92px;left:144px;white-space:nowrap">Operations:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:581.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:1399.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:1961.68px;letter-spacing:49.7px;white-space:nowrap">.................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:7462.23px;white-space:nowrap">$14,755,485</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:9190.23px;white-space:nowrap">$28,423,474</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:581.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:1186.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:1533.16px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:1961.68px;letter-spacing:49.7px;white-space:nowrap">.................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:7444.66px;white-space:nowrap">(36,902,390)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:9172.66px;white-space:nowrap">(98,043,407)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:581.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:1150.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:1319.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:2102.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:3018.7px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:4016.76px;letter-spacing:50.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:7675.83px;letter-spacing:-3.96px;white-space:nowrap">6,111,211</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:9279.22px;white-space:nowrap">12,907,372</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:869.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:1518.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:2327.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:2496.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:2763.73px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:3270.61px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:3919.83px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:4284.28px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:5044.31px;letter-spacing:51.22px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:7444.66px;white-space:nowrap">(16,035,694)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:9172.66px;white-space:nowrap">(56,712,561)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:144px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:1068.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:1246.66px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:2241.91px;letter-spacing:49.75px;white-space:nowrap">..............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:7444.66px;white-space:nowrap">(21,127,705)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:9273.52px;letter-spacing:-1.08px;white-space:nowrap">(3,729,110)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:144px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:1068.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:1246.66px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:2216.11px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:2580.56px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:2838.45px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:3300.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:3478.77px;white-space:nowrap">capital</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:4016.76px;letter-spacing:50.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:8192px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2482.83px;left:9172.66px;white-space:nowrap">(25,755,776)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.32px;left:144px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.32px;left:526.42px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.32px;left:1424.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.32px;left:1602.52px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.32px;left:2615.57px;letter-spacing:49.82px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.32px;left:7444.66px;white-space:nowrap">(21,127,705)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.32px;left:9172.66px;white-space:nowrap">(29,484,886)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:869.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:1518.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:2327.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:2496.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:2763.73px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:3269.46px;letter-spacing:49.99px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:7444.66px;white-space:nowrap">(37,163,399)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2945.8px;left:9172.66px;white-space:nowrap">(86,197,447)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3148.28px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3148.28px;left:293.44px;white-space:nowrap">assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3350.77px;left:144px;white-space:nowrap">Beginning </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3350.77px;left:900.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3350.77px;left:1078.06px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3350.77px;left:1588.02px;letter-spacing:49.64px;white-space:nowrap">.....................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3350.77px;left:7462.23px;white-space:nowrap">819,180,812</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3350.77px;left:9190.23px;white-space:nowrap">905,378,259</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3582.25px;left:144px;white-space:nowrap">End </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3582.25px;left:473.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3582.25px;left:651.03px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3582.25px;left:1120.96px;letter-spacing:49.58px;white-space:nowrap">..........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3582.25px;left:7373.25px;white-space:nowrap">$782,017,413</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3582.25px;left:9101.25px;white-space:nowrap">$819,180,812</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">25</div></div>
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		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:189px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5369.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:51px;left:54px;position:absolute;top:74px;width:504px">
			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:853.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:1181.6px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:2445.12px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:4020.64px;white-space:nowrap">(unaudited)</div></div>
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		<div style="height:610px;left:54px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:12118px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">











			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.69px;white-space:nowrap">Organization </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1436.2px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1831.33px;text-rendering:optimizeLegibility;letter-spacing:-3.33px;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:2857.74px;letter-spacing:-3.64px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:3969.21px;letter-spacing:-3.5px;white-space:nowrap">Policies</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:880.49px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1450.81px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2091.09px;white-space:nowrap">Fund&#160;(Fund) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3131.54px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3311.54px;white-space:nowrap">registered&#160;under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:300.23px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1230.64px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2041.08px;white-space:nowrap">Act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2351.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2551.29px;white-space:nowrap">1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3001.73px;white-space:nowrap">(1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3502.18px;white-space:nowrap">Act) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3872.2px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4112.31px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:0px;white-space:nowrap">closed-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:930.59px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2031.24px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2951.63px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3732.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:4082.34px;white-space:nowrap">applies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:300.23px;white-space:nowrap">specialized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:1240.75px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2161.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2511.74px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:3272.17px;white-space:nowrap">guidance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:4052.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:4242.92px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:0px;white-space:nowrap">Generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:810.44px;white-space:nowrap">Accepted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:1601.02px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:2541.62px;white-space:nowrap">Principles </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:3371.92px;white-space:nowrap">(U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:3831.94px;white-space:nowrap">GAAP). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:360.18px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:1110.59px;white-space:nowrap">summarizes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:2130.73px;white-space:nowrap">the&#160;Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:3015.62px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:3866.04px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2024px;left:0px;white-space:nowrap">policies.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2527.54px;left:0px;white-space:nowrap">a. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2527.54px;left:211.25px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2527.54px;left:1087.58px;white-space:nowrap">Instrument </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2527.54px;left:2122.1px;letter-spacing:-1.05px;white-space:nowrap">Valuation&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:360.18px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:944.82px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:1955.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:2145.32px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:2855.74px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:3836.07px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:4146.24px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:0px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:200.13px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:500.19px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:980.51px;letter-spacing:-1.91px;white-space:nowrap">daily. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:1437.36px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:1797.36px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:2277.69px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:2457.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:2757.92px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:3198.08px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:3548.32px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:4068.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:0px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:730.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:930.5px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:1250.6px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:1500.82px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:1981.05px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:2191.11px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:2581.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:2781.56px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:3441.8px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:3591.91px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:4182.1px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:4372.21px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:0px;white-space:nowrap">orderly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:600.21px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:1530.7px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:2261.25px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:2861.37px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:3831.86px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:4082.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:0px;white-space:nowrap">measurement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:1150.49px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:1597.59px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:1957.76px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:2418.05px;white-space:nowrap">calculates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:3268.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:3568.71px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:3868.95px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:480.32px;letter-spacing:-2.23px;white-space:nowrap">(NAV) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:1006.96px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:1317.13px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:1817.4px;white-space:nowrap">each&#160;business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3018.16px;white-space:nowrap">day&#160;as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3598.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3798.63px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3948.75px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:0px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:670.34px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:1060.4px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:1270.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:1570.69px;white-space:nowrap">regularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:2311px;white-space:nowrap">scheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3181.64px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3651.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3851.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:4152.22px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:0px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:403.59px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:903.78px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:1754.38px;white-space:nowrap">(NYSE), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:2464.45px;white-space:nowrap">whichever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:3324.81px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:3504.81px;letter-spacing:-1.1px;white-space:nowrap">earlier. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:4145.1px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:0px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:960.47px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:1610.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:1961.1px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:2911.64px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:3712.24px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:3952.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:4252.59px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:530.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:727.21px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:1470.76px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:1830.94px;white-space:nowrap">Board), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:2471.22px;white-space:nowrap">the&#160;Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:3356.1px;white-space:nowrap">administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:4446.47px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:0px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:1090.46px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:1350.53px;white-space:nowrap">oversight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:2130.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:2331.04px;white-space:nowrap">valuation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:3151.58px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:3912.1px;white-space:nowrap">leading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:300.23px;white-space:nowrap">cross-functional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:1610.77px;letter-spacing:-1.34px;white-space:nowrap">Valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:2398.01px;white-space:nowrap">Committee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:3318.22px;white-space:nowrap">(VC). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:3784.92px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:4145.1px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:390.06px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:900.26px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:1941.24px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:2521.49px;white-space:nowrap">services, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:3281.66px;white-space:nowrap">quotations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:4162.32px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:810.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:1160.6px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:1871.02px;white-space:nowrap">instrument </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:2761.35px;white-space:nowrap">dealers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:3451.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:3802.06px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:4262.34px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:0px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:680.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:880.4px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:1730.83px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:2030.89px;white-space:nowrap">value.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:0px;white-space:nowrap">Debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:430.22px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:1240.49px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:2020.96px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:2481.24px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:2671.35px;white-space:nowrap">the&#160;over-the-counter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:0px;white-space:nowrap">(OTC) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:549.84px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:1149.96px;white-space:nowrap">rather </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:1670.19px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:2070.53px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:2320.75px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:2470.87px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:3281.13px;white-space:nowrap">exchange. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:4158.54px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:0px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:584.65px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:1164.9px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:1875.06px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:2215.28px;white-space:nowrap">multiple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:2885.54px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:3656.07px;white-space:nowrap">techniques </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:200.13px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:1050.56px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:1350.62px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:1880.95px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:2081.07px;white-space:nowrap">instances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:2891.51px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:3431.78px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:600.12px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:1200.23px;white-space:nowrap">exists, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:1760.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:2060.6px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:2640.85px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:3351.01px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:3741.06px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:4251.27px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:0px;white-space:nowrap">market-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:1150.49px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:1951.08px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:2611.58px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:3121.79px;white-space:nowrap">quotes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:3712.24px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:4122.25px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:0px;white-space:nowrap">makers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:640.11px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:950.27px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:1390.61px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:1590.73px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:2441.16px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:2741.22px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:3271.55px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:3471.68px;white-space:nowrap">instances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:0px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:540.26px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:1300.61px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:1900.72px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:2500.84px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:2890.9px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:3191.13px;white-space:nowrap">exist </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:3611.25px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:3821.31px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:4001.31px;white-space:nowrap">limited, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:300.23px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:880.49px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:1590.64px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:1970.86px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:2481.06px;white-space:nowrap">proprietary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:3391.44px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:0px;white-space:nowrap">models </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:630.26px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:1140.47px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:1530.53px;white-space:nowrap">consider </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:2260.9px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:2861.02px;white-space:nowrap">characteristics </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:4061.34px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:4491.56px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:0px;white-space:nowrap">benchmark </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:940.43px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:1360.63px;white-space:nowrap">curves, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:1990.81px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:2480.98px;white-space:nowrap">spreads, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:3221.37px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:4051.76px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:0px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:500.19px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:1420.84px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:2020.96px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:2661.24px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:3021.42px;letter-spacing:-1.11px;white-space:nowrap">volatility, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:3748.27px;white-space:nowrap">coupon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:0px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:500.19px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:1420.84px;white-space:nowrap">timing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:1951px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:2151.12px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:2871.47px;white-space:nowrap">repayments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:3911.92px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:0px;white-space:nowrap">collateral, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:820.37px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:1170.7px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:1630.99px;white-space:nowrap">unique </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:2221.52px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:2891.69px;white-space:nowrap">features </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:3592.09px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:3782.2px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:4252.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:0px;white-space:nowrap">estimate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:730.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:1030.52px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:1720.9px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:2151.12px;text-rendering:optimizeLegibility;white-space:nowrap">flows, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:2661.24px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:3171.45px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:3481.61px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:3881.95px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:200.13px;white-space:nowrap">calculate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:960.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:1260.79px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:1560.85px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:2091.18px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:2931.5px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:4022.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:150.12px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:750.5px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:1490.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:1800.88px;white-space:nowrap">converted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:2641.38px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:2981.6px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:3381.77px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:3781.85px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:0px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:870.64px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:1070.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:1371.01px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:1971.39px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:2802.04px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:3162.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:3352.32px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:3839.33px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:4039.45px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:4189.57px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:0px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:670.34px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:1060.4px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:1310.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:1610.86px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:2011.2px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:2361.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:2661.68px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:3232px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:3432.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:3732.36px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:4332.74px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11538px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11538px;left:810.26px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11538px;left:1120.43px;white-space:nowrap">determined.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6240.41px;white-space:nowrap">in&#160;open-end&#160;mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7831.49px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8321.84px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8632px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9212.43px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9412.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5830.31px;letter-spacing:-5.98px;white-space:nowrap">NAV. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5220px;white-space:nowrap">Certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5850.26px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:6670.63px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:7381.05px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:8361.39px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:8671.55px;white-space:nowrap">centrally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:9391.82px;white-space:nowrap">cleared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5430.06px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5890.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6080.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6380.68px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6810.64px;white-space:nowrap">market. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7457.52px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7817.7px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8402.34px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8982.6px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5220px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5560.22px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6190.49px;white-space:nowrap">techniques </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7111.14px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7871.66px;white-space:nowrap">industry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8551.93px;white-space:nowrap">standard </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9302.43px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5800.25px;white-space:nowrap">models </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6430.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6780.85px;white-space:nowrap">proprietary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7691.22px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8611.88px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9042.1px;text-rendering:optimizeLegibility;white-space:nowrap">flow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9412.21px;white-space:nowrap">models </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5420.13px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6270.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6570.79px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6870.85px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7351.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7551.3px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8041.64px;white-space:nowrap">instruments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9068.73px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9428.91px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5520.23px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6110.68px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6320.74px;white-space:nowrap">obligation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7141.38px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7651.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7951.99px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8772.36px;white-space:nowrap">contract, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9512.67px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6070.43px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6310.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6610.78px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6910.84px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7391.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7591.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7891.52px;white-space:nowrap">contract, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8631.83px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8811.83px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9532.35px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9722.46px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">assets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6040.46px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6380.68px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:7331.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:7531.35px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8381.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8682.01px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8982.07px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:9462.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:5930.42px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:6910.75px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:7170.82px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:7681.03px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:8281.14px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:8811.3px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:9121.46px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:9421.7px;white-space:nowrap">reliable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:5430.06px;white-space:nowrap">readily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:6010.31px;white-space:nowrap">available. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:6820.84px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7361.1px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7851.45px;white-space:nowrap">procedures, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:8851.99px;white-space:nowrap">the&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5220px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5950.02px;white-space:nowrap">employs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6670.28px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6820.4px;white-space:nowrap">market-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7970.89px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8771.48px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9281.69px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5220px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5560.22px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6160.61px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6370.66px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7361.19px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7931.43px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8141.48px;white-space:nowrap">liabilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8921.78px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:5220px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6290.51px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6890.63px;white-space:nowrap">multiples, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:7700.89px;white-space:nowrap">book </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:8141.22px;white-space:nowrap">values, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:8761.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:9111.88px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:5220px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:5910.38px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:6850.81px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7110.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7411.11px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8331.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8531.63px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:9382.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5220px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5520.06px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6000.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6200.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6500.74px;white-space:nowrap">investment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7461.21px;white-space:nowrap">An </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7731.39px;white-space:nowrap">income-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8912.02px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6020.6px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6410.65px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6790.87px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7041.09px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7481.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7671.53px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8181.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8481.97px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:9402.63px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5650.22px;text-rendering:optimizeLegibility;white-space:nowrap">flows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6110.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6310.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6610.69px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7531.08px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7841.25px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8761.9px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8962.03px;white-space:nowrap">calculate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5220px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5520.06px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6050.39px;white-space:nowrap">Discounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6890.71px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7280.77px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7660.99px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7911.21px;white-space:nowrap">applied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8541.74px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8892.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9092.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9392.43px;white-space:nowrap">nature </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5430.06px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6130.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6330.67px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6670.9px;white-space:nowrap">restrictions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7591.11px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7841.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8141.57px;white-space:nowrap">disposition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:9042.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:9242.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5220px;white-space:nowrap">investments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6280.4px;white-space:nowrap">Due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6660.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6860.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7160.98px;white-space:nowrap">inherent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7861.46px;white-space:nowrap">uncertainty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8791.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8992.09px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9852.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5650.22px;white-space:nowrap">investments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6710.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7010.86px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7310.92px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7881.24px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8271.3px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8718.22px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:9698.64px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5520.23px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6090.56px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6440.8px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6961.11px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7401.45px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7851.88px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8292.22px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8642.55px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8892.77px;white-space:nowrap">active </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:9413px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5220px;white-space:nowrap">existed. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7092.18px;left:5220px;white-space:nowrap">b. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7092.18px;left:5441.64px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7092.18px;left:6191.06px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7092.18px;left:7078.07px;letter-spacing:-0.87px;white-space:nowrap">Translation&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:5220px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:5930.33px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:6740.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:7090.93px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:7551.21px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:8121.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:8471.78px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:5220px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:6310.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:6500.92px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:7101.3px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:7981.61px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:8291.78px;white-space:nowrap">translated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:9132.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:9472.5px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:5220px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:5800.25px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6340.69px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6590.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6891.15px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:7721.81px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:8081.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:8282.11px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:8712.33px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:5220px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:5850.44px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:6250.52px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:6830.77px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7081px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7381.23px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7781.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7981.7px;white-space:nowrap">valuation. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:8798.99px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:9159.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:9619.45px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:5220px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:5680.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:6020.51px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:6620.89px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:7361.1px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:8191.76px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:8972.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:9172.18px;white-space:nowrap">facilitate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:5220px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:6240.5px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7331.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7521.42px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7671.53px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:8271.91px;letter-spacing:-1.34px;white-space:nowrap">currency. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:9048.78px;white-space:nowrap">Purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:5570.33px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:6040.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:6240.67px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:7100.95px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:7731.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:8081.54px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:8812.09px;white-space:nowrap">items </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:5220px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:6310.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:6500.92px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:7101.3px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:7981.61px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:8291.78px;white-space:nowrap">translated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:9132.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:9472.5px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:5220px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:5800.25px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:6000.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:6300.62px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:7131.27px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:7491.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:7681.55px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:8168.55px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:8418.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:8719.01px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:9649.51px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:5220px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:5930.33px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:6740.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:7090.93px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:7661.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:8011.49px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:8741.78px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:5410.11px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:6010.49px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:6890.8px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:7521.24px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:7941.18px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:8291.43px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:8781.77px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:9662.08px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:5220px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:5840.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:6030.53px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:6510.85px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:7141.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:7341.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:7641.47px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:8041.55px;letter-spacing:-1.24px;white-space:nowrap">dollar. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:8571.88px;letter-spacing:-0.95px;white-space:nowrap">Occasionally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:5220px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:5800.34px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:6190.4px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:6770.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:7070.8px;white-space:nowrap">availability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:7951.2px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:8161.26px;white-space:nowrap">reliability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:8911.49px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:9111.62px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:5220px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:6050.65px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:6500.83px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:6941.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:7141.29px;white-space:nowrap">convert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:7781.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:8081.81px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:8481.88px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:8972.14px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:5220px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:5750.33px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:5900.36px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:6330.59px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:6580.81px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:7071.15px;white-space:nowrap">occurs, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:7701.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:8001.56px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:8601.94px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:9432.6px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:5220px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:5519.97px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:5770.2px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:6350.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:6550.75px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:6850.81px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:7331.13px;white-space:nowrap">using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:7811.46px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:8761.99px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:9722.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11422.64px;left:5220px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11422.64px;left:6020.6px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11422.64px;left:6260.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11422.64px;left:6560.95px;white-space:nowrap">Board.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:820.46px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1260.79px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1561.03px;white-space:nowrap">separately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2441.51px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2961.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3261.97px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3748.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3949.1px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:190.11px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:790.49px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1621.14px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2071.32px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2481.33px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3211.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3401.98px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:4002.1px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:250.22px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1060.49px;white-space:nowrap">held. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1500.82px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1961.1px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2691.65px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3001.82px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3722.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3912.45px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:0px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:680.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1030.69px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1911.27px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2301.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2511.65px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2881.76px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:3291.77px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:4302.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:4492.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:0px;white-space:nowrap">Statement&#160;of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1070.6px;white-space:nowrap">Operations.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:0px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:750.41px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:1350.79px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2181.45px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2661.77px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2871.83px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:3432.04px;white-space:nowrap">arise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:3872.2px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:4282.21px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:200.13px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:800.51px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:1730.83px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:2471.04px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:2951.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:3161.43px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:3721.64px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:0px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:730.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:1030.78px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:1491.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:1841.4px;white-space:nowrap">settlement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:2721.8px;white-space:nowrap">dates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:3212.14px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:3462.36px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:0px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1020.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1370.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1671.06px;letter-spacing:-0.3px;white-space:nowrap">difference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:2508.31px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:3238.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:3539.09px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:0px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:740.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:940.52px;white-space:nowrap">dividends, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:1801.05px;white-space:nowrap">interest, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:2491.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:2841.68px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:3442.06px;white-space:nowrap">withholding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:0px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:480.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:830.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:1130.8px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:1530.88px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:2021.13px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:2891.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:3091.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:3392.14px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:4132.53px;white-space:nowrap">actually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:0px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:730.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:940.43px;white-space:nowrap">paid. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:1380.76px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:1710.88px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:2591.46px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:3191.84px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:4022.49px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:350.33px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:910.55px;white-space:nowrap">arise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:1350.7px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:1760.71px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:2491.26px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:2681.37px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:3281.75px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:4112.4px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:250.22px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:850.61px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:1941.42px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:2511.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:2861.98px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:3592.27px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:4052.55px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:0px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:1010.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:1200.5px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2010.76px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2401.08px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2601.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2901.45px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:3251.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:3451.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:3752.14px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:0px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5421.54px;left:0px;white-space:nowrap">c. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5421.54px;left:211.25px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5421.54px;left:1172.38px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5421.54px;left:2048.72px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:360.18px;white-space:nowrap">Fund&#160;invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:1540.9px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:1731.01px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:2551.38px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:3261.8px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:4242.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:0px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:470.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:670.34px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:1370.83px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:1700.77px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:1910.83px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:2301.15px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:3091.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:3291.77px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:3922.03px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:0px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:1010.39px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:1220.45px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:1960.58px;white-space:nowrap">Derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:2900.83px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:3211px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:3921.42px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:790.66px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:1040.89px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:1921.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:2131.52px;white-space:nowrap">notional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:2812.06px;white-space:nowrap">amount, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:3512.46px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:4122.77px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:0px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:460.2px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:1380.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:1590.64px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:1840.87px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:2301.06px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:2601.3px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:3521.69px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:3871.93px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:4051.93px;white-space:nowrap">smaller </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:0px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:400.34px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:920.65px;white-space:nowrap">normally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:1650.85px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:1901.07px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:2611.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:2811.62px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:3251.95px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:3402.07px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:3972.04px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:200.13px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:930.67px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:1120.78px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:1720.9px;white-space:nowrap">factors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:2361.09px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:2711.43px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:3321.74px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:3531.8px;white-space:nowrap">permit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:4081.9px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:0px;white-space:nowrap">settlement. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:930.41px;white-space:nowrap">Derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:1870.66px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:2501.1px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:3131.37px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:3551.31px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:300.23px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:1030.78px;white-space:nowrap">inability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:1681.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:1881.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:2181.45px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:3232px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:3432.13px;text-rendering:optimizeLegibility;white-space:nowrap">fulfill </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:3842.23px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:0px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:910.63px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:1421.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:1721.25px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:2221.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:2421.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:2721.62px;white-space:nowrap">contract, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:3461.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:3762.16px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:4492.71px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:0px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:250.22px;white-space:nowrap">illiquid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:800.51px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:1681px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:2331.12px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:2891.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:3191.75px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:3922.29px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:4182.36px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:0px;white-space:nowrap">movements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:980.33px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:1490.54px;white-space:nowrap">expose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:2120.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:2421.21px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:2881.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:3081.62px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:3561.94px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:3772px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:4332.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:0px;white-space:nowrap">excess </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:610.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:810.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:1110.59px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:1850.98px;white-space:nowrap">shown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:2421.3px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:2611.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:2911.64px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:3782.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:3972.3px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:350.33px;white-space:nowrap">Liabilities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:1190.74px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:1941.15px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:2331.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:2681.81px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:3051.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:3402.25px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:0px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:1030.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:1381.03px;white-space:nowrap">depreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:2411.72px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:2661.94px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:3152.29px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:3932.58px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:4192.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:0px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:550.37px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:860.54px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:1581.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:1771.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:2071.41px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:2941.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:3142px;white-space:nowrap">Operations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:0px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:850.25px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:1900.81px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2390.98px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2720.92px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2900.92px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:3701.51px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:4362.01px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:0px;white-space:nowrap">formal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:550.11px;white-space:nowrap">evaluation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1420.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1620.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1921.11px;white-space:nowrap">creditworthiness </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:3271.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:3471.77px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:3701.87px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:0px;white-space:nowrap">counterparties. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:1237.41px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:1597.59px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:2057.87px;white-space:nowrap">attempts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:2798.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:2998.3px;white-space:nowrap">reduce </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:3598.68px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:3828.69px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:200.13px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:1250.68px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:1740.85px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:2070.79px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:2321.02px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:2750.98px;white-space:nowrap">derivatives, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:3711.36px;white-space:nowrap">whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:0px;white-space:nowrap">possible, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:760.43px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:1000.55px;white-space:nowrap">entering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:1701.04px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:2041.26px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:3081.97px;white-space:nowrap">Swaps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:3672.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:0px;white-space:nowrap">Derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:930.32px;white-space:nowrap">Association </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:1900.81px;white-space:nowrap">(ISDA) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:2490.82px;white-space:nowrap">master </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:3090.94px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:0px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:370.11px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:960.38px;white-space:nowrap">counterparties. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:2197.79px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:2748.08px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:3748.62px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:0px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:630.26px;white-space:nowrap">provisions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:1540.63px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:2301.15px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:2601.39px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:2901.62px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:3471.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:3671.89px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:0px;white-space:nowrap">requirements, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:1150.49px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:1730.83px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:1930.96px;white-space:nowrap">default, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:2571.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:2781.47px;white-space:nowrap">early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:3221.63px;white-space:nowrap">termination. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;letter-spacing:-1.66px;white-space:nowrap">Termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6200.42px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6780.76px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7641.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7841.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8141.75px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9192.3px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5810.27px;white-space:nowrap">deteriorations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6950.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7141.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7441.26px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7931.43px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8501.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8701.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9002.11px;letter-spacing:-0.95px;white-space:nowrap">counterparty. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;letter-spacing:-1.66px;white-space:nowrap">Termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6200.42px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6780.76px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7641.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7841.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8141.75px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8602.03px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9222.45px;white-space:nowrap">failure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5720.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6180.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6380.77px;white-space:nowrap">maintain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7111.14px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7701.42px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8001.65px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8481.88px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8992.09px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9552.48px;white-space:nowrap">limit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5520.23px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6140.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6330.76px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6631px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7201.23px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7601.4px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8231.66px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8872.03px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9072.16px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9512.23px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5520.23px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6010.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6210.7px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6801.15px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7011.21px;white-space:nowrap">early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7451.37px;white-space:nowrap">termination, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8441.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8742.04px;letter-spacing:-1.99px;white-space:nowrap">ISDA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9202.24px;white-space:nowrap">master </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6130.55px;white-space:nowrap">gives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6600.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6901px;white-space:nowrap">non-defaulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8091.91px;white-space:nowrap">party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8542.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8842.32px;white-space:nowrap">right </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9242.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9442.62px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5570.33px;white-space:nowrap">close-out </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6350.71px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6580.81px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7601.31px;white-space:nowrap">traded, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8211.71px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8902.09px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9112.15px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9412.38px;white-space:nowrap">arising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5730.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6030.62px;letter-spacing:-1.99px;white-space:nowrap">ISDA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6490.81px;white-space:nowrap">agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7451.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7651.49px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8001.83px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8302.06px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8952.45px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9632.99px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5570.33px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6620.89px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6821.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7121.25px;letter-spacing:-1.42px;white-space:nowrap">other. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7621.61px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8421.94px;white-space:nowrap">absent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9012.39px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9262.62px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5420.13px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6010.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6220.63px;white-space:nowrap">early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6660.79px;white-space:nowrap">termination, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7651.23px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8081.19px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8901.56px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5570.33px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6300.62px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6610.78px;white-space:nowrap">presented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7461.39px;white-space:nowrap">gross </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7951.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8301.88px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8602.12px;letter-spacing:-0.46px;white-space:nowrap">offset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9089.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9279.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5220px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6090.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6280.66px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6870.85px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7221.18px;white-space:nowrap">Liabilities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8061.59px;white-space:nowrap">Early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8521.7px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:9462.13px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:9702.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5220px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6270.56px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6660.62px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7150.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7340.89px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7591.11px;white-space:nowrap">immediate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8471.43px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9211.82px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9451.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5680.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5880.41px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6220.63px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6520.87px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7111.05px;white-space:nowrap">owed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7591.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7791.5px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8141.75px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9192.3px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9702.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5220px;letter-spacing:-1.99px;white-space:nowrap">ISDA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5680.2px;white-space:nowrap">agreement.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6030.35px;white-space:nowrap">requirements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7130.83px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7577.75px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7817.87px;white-space:nowrap">type </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8208.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8408.23px;white-space:nowrap">derivative. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9278.61px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5720.01px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6030.18px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6720.47px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7370.68px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7630.75px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8060.71px;white-space:nowrap">derivatives. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:9021.09px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:9341.1px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5220px;white-space:nowrap">derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6130.37px;white-space:nowrap">traded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6690.76px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7201.14px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7451.37px;letter-spacing:-1.99px;white-space:nowrap">ISDA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7911.56px;white-space:nowrap">master </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8511.68px;white-space:nowrap">agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9472.24px;white-space:nowrap">posting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5420.13px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6190.49px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6370.49px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7080.91px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7321.03px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7821.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8121.53px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8581.82px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8791.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9092.11px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5220px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6270.56px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6410.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6710.8px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7101.04px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7401.27px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8191.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8391.88px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8621.98px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9051.94px;white-space:nowrap">derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5220px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5590.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5890.34px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6750.97px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7801.52px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8521.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8822.2px;white-space:nowrap">minimum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5220px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5880.23px;white-space:nowrap">amount, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6580.63px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7090.84px;white-space:nowrap">typically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7781.04px;white-space:nowrap">ranges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8381.43px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8791.44px;white-space:nowrap">$100,000 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9592.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5220px;white-space:nowrap">$250,000, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6070.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6421.11px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6761.34px;white-space:nowrap">vary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7151.4px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8042.26px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8292.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8592.71px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9643.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5520.23px;white-space:nowrap">type </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5910.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6110.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6410.83px;white-space:nowrap">agreement. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7371.39px;letter-spacing:-1.21px;white-space:nowrap">Generally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8228.41px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8998.77px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9178.77px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5220px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5720.36px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6190.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6390.7px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6850.99px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7611.42px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8051.75px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8391.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8742.3px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9082.53px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5220px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5990.36px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6700.78px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7051.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7251.24px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7981.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8171.89px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8992.27px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5610.06px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5860.28px;white-space:nowrap">delivered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6640.75px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6880.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7181.1px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7641.39px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7851.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:8151.68px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:9202.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:9502.47px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5220px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5980.43px;letter-spacing:-2.67px;white-space:nowrap">day, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6357.3px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6567.36px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7077.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7227.69px;white-space:nowrap">few </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7557.8px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8318.23px;white-space:nowrap">days. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8798.47px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5220px;white-space:nowrap">pledged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5910.64px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6471.04px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7201.41px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7441.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7741.76px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8252.05px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8392.06px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8768.94px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8948.94px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:9339.26px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5220px;white-space:nowrap">segregated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6170.71px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6941.16px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7311.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7611.5px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8198.53px;white-space:nowrap">custodian/counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5220px;white-space:nowrap">broker </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5780.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6130.55px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6470.77px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6721px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6911.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7211.34px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7621.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7821.47px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8251.7px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8812.09px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5220px;white-space:nowrap">Unrestricted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6240.32px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6670.55px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7060.61px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7310.83px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:8031.27px;white-space:nowrap">according </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:8861.75px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9061.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9362.11px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6140.39px;white-space:nowrap">objectives. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7037.58px;letter-spacing:-6.65px;white-space:nowrap">To </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7277.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7577.93px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8118.28px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8468.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8768.76px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5220px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5570.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5770.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6070.69px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6530.98px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6940.99px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:7171px;white-space:nowrap">counterparties </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8361.65px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8671.82px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8972.05px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:9592.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5220px;white-space:nowrap">collateralization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6510.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6720.73px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7030.9px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7331.13px;white-space:nowrap">fully </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7701.24px;white-space:nowrap">collateralized, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8851.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9152.05px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9612.33px;white-space:nowrap">bears </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5520.23px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5850.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6050.3px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6420.41px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6830.42px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7880.98px;white-space:nowrap">non-performance.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5580.18px;white-space:nowrap">Fund&#160;entered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6700.96px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7041.18px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7471.14px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8121.36px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8952.01px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5950.02px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6150.15px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6850.63px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7411.03px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7801.35px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8591.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8791.96px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9382.24px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">currencies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6140.39px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6300.53px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6950.74px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7781.4px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8471.69px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8651.69px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8901.91px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5950.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6250.78px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6711.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7061.4px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7211.51px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8262.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8462.2px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8802.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9012.48px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9332.58px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9482.7px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">currency&#160;at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6160.34px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6310.46px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6960.67px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7791.33px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8151.5px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8401.73px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8551.85px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:9062.14px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6040.46px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6931.05px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7141.11px;white-space:nowrap">wrote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7631.28px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8061.24px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8601.68px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:9381.97px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5420.13px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6120.62px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6681.01px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7071.33px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7861.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8061.94px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8662.32px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:9492.98px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5220px;white-space:nowrap">risk. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5590.02px;white-space:nowrap">An </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5860.2px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6400.63px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6580.63px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6730.75px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7421.04px;white-space:nowrap">entitling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8091.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8391.71px;white-space:nowrap">holder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8942.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:9142.21px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:5430.06px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:5750.16px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:5900.27px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6550.49px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:7200.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:7401.01px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:7991.28px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:8201.34px;white-space:nowrap">units </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:8631.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:8831.69px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:9081.91px;white-space:nowrap">asset </div></div>
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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.69px;white-space:nowrap">Organization </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1436.2px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1831.33px;text-rendering:optimizeLegibility;letter-spacing:-3.33px;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:2857.74px;letter-spacing:-3.64px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:3969.21px;letter-spacing:-3.5px;white-space:nowrap">Policies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:250.14px;left:0px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:0px;white-space:nowrap">b. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:221.64px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:971.06px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:1858.07px;letter-spacing:-0.7px;white-space:nowrap">Translation&#160; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:682.94px;left:2977.19px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6428.83px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6987px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7239.48px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8076.36px;letter-spacing:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9107.58px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">27</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:210.06px;white-space:nowrap">notional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:890.6px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1540.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1741.11px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1891.23px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2361.45px;white-space:nowrap">(swaption), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3291.77px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3491.89px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3642.01px;text-rendering:optimizeLegibility;white-space:nowrap">specified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:0px;white-space:nowrap">price. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:490.17px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1010.39px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1260.62px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1801.05px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1981.05px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2871.65px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3081.71px;white-space:nowrap">written, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3711.88px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3962.11px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:0px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:490.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:690.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:990.79px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1740.94px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2131.26px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2341.32px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3071.69px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3251.69px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:4012.12px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:4252.24px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:0px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:480.23px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:690.29px;letter-spacing:-1.21px;white-space:nowrap">liability, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1317.13px;letter-spacing:-0.95px;white-space:nowrap">respectively. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2354.15px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2834.47px;white-space:nowrap">exercise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:3554.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:3754.86px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:4005.09px;white-space:nowrap">option, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:300.23px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1200.76px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1580.89px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1790.95px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:2261.16px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:3051.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:3251.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:3552.01px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:920.39px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:1100.39px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:1830.94px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:2071.05px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:2411.28px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:3161.43px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:3891.8px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:4101.86px;white-space:nowrap">paid. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:0px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:480.32px;white-space:nowrap">expiration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1310.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1510.93px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1761.15px;white-space:nowrap">option, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:2351.6px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:2691.83px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:3441.97px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:4172.34px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:4382.4px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:179.74px;letter-spacing:0px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:939.92px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:1179.78px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:1329.64px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:2009.75px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:2399.81px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:2609.62px;white-space:nowrap">loss. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:3029.48px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:3509.54px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:4119.6px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:4369.57px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:0px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:460.28px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:860.63px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:1521.12px;white-space:nowrap">expiration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:2351.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:2561.66px;white-space:nowrap">exercise, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:3331.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:3632.17px;letter-spacing:-0.3px;white-space:nowrap">difference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:0px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:730.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:1030.78px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:1780.93px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:2511.3px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:2721.36px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:3111.68px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:3462.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:3762.25px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:4142.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:4342.5px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:300.23px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:970.66px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:1150.66px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:1911.09px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:2151.21px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:2301.33px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:2981.69px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:3372.01px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:3582.07px;white-space:nowrap">loss.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:370.28px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:800.51px;white-space:nowrap">9 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:950.63px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:1761.15px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:2221.44px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:3041.81px;white-space:nowrap">information. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4421.54px;left:0px;white-space:nowrap">d. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4421.54px;left:221.64px;white-space:nowrap">Restricted </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4421.54px;left:1203.64px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:1461.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:1761.33px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:2221.61px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:2611.93px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:3492.25px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:3682.35px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:0px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:690.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:880.22px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:1390.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:1690.66px;white-space:nowrap">ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:2200.87px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:2401px;white-space:nowrap">repatriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:3211.44px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:3641.66px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:4381.88px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:0px;white-space:nowrap">limited. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:610.22px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:870.29px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:1020.41px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:1510.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:1710.7px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:2140.93px;white-space:nowrap">limitations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:2991.18px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:3241.41px;white-space:nowrap">repatriation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:4241.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:460.28px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:850.34px;white-space:nowrap">incur </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:1290.5px;white-space:nowrap">substantial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:2201.04px;white-space:nowrap">delays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:2771.37px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:2961.47px;white-space:nowrap">gaining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:3592px;white-space:nowrap">access </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:4202.23px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:4402.35px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:0px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:570.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:920.57px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:1310.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:1560.85px;white-space:nowrap">exposed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:2291.4px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:2491.52px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:3222.07px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:3912.45px;white-space:nowrap">movements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:190.11px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:930.32px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6505.54px;left:0px;white-space:nowrap">e. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6505.54px;left:211.25px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6505.54px;left:929.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6505.54px;left:1319.79px;white-space:nowrap">Deferred </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6505.54px;left:2154.01px;letter-spacing:-2.35px;white-space:nowrap">Taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:0px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:150.03px;white-space:nowrap">is&#160;the&#160;Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:1214.91px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:1725.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:1925.24px;white-space:nowrap">qualify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:2495.57px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:2735.68px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:2885.8px;white-space:nowrap">regulated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6836px;left:3686.4px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7086px;left:0px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7086px;left:780.38px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7086px;left:1290.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7086px;left:1591px;white-space:nowrap">Internal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7086px;left:2241.39px;white-space:nowrap">Revenue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7086px;left:3011.92px;letter-spacing:-0.22px;white-space:nowrap">Code.&#160;The&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:0px;white-space:nowrap">intends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:630.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:830.57px;white-space:nowrap">distribute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:1610.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:1811.07px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:2901.71px;white-space:nowrap">substantially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:3942.25px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:4172.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7336px;left:4372.47px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:0px;white-space:nowrap">taxable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:630.44px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:1260.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:1611.04px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:1911.27px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:2591.63px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:3071.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:3272.08px;white-space:nowrap">relieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:3852.33px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7586px;left:3992.34px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:0px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:600.38px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:1230.64px;white-space:nowrap">and&#160;excise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:2141.19px;white-space:nowrap">taxes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:2661.5px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:2921.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:3071.69px;white-space:nowrap">result, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:3611.87px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:3862.09px;white-space:nowrap">provision </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7836px;left:4632.45px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8086px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8086px;left:400.08px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8086px;left:1000.46px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8086px;left:1630.72px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8086px;left:2110.96px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8086px;left:2290.96px;white-space:nowrap">required.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:0px;white-space:nowrap">The&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:820.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:1210.52px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:1460.74px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:2081.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:2281.2px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:2881.58px;white-space:nowrap">taxation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:3562.03px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8516px;left:4162.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:0px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:630.26px;white-space:nowrap">received, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:1410.64px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:1980.97px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:2461.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:2711.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:3011.75px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:3391.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8766px;left:3592.09px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9016px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9016px;left:350.33px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9016px;left:940.61px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9016px;left:1540.99px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9016px;left:2281.2px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9016px;left:3301.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9016px;left:3491.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9016px;left:3792.04px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:0px;white-space:nowrap">jurisdictions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:990.35px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:1180.46px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:1690.66px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:1830.67px;white-space:nowrap">invests. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:2490.91px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:3151.23px;white-space:nowrap">taxes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:3681.47px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:3821.48px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9266px;left:4198.36px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:0px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:760.43px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:1300.87px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:1551.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:1851.33px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:2141.46px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:3072.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:3422.37px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:3872.55px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9516px;left:4222.79px;white-space:nowrap">exist </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:190.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:490.34px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:1090.72px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:1780.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:1970.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:2481.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:2781.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:3241.67px;white-space:nowrap">invests. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:3901.9px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9766px;left:4422.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:0px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:570.32px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:960.64px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:1250.77px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:1430.77px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:2381.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:2581.44px;letter-spacing:-1.91px;white-space:nowrap">apply, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:3098.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:3398.64px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:3858.93px;white-space:nowrap">records </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10016px;left:4509.14px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:0px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:830.39px;white-space:nowrap">deferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:1550.83px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:1840.96px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:2431.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:2621.25px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:2871.47px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:3521.87px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:3872.11px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10266px;left:4392.42px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:0px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:680.54px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:820.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:1120.78px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:1931.04px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:2371.2px;white-space:nowrap">disposed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:3141.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:3341.87px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:3592.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10516px;left:3892.32px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10766px;left:0px;white-space:nowrap">date.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:820.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:1210.52px;white-space:nowrap">recognize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:2041px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:2291.22px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:2921.48px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:3211.61px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11196px;left:3801.8px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:200.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:430.14px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:1220.63px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:1510.75px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:2271.18px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:2781.56px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:3181.64px;letter-spacing:-0.65px;white-space:nowrap">GAAP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:3728.58px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11446px;left:4208.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:0px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:790.49px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:1080.62px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:1751.04px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:2091.27px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:2241.39px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:2611.49px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:3011.84px;white-space:nowrap">50% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:3422.11px;white-space:nowrap">probability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11696px;left:4292.58px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:0px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:140.01px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:439.98px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:690.21px;white-space:nowrap">sustained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:1510.75px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:1961.19px;white-space:nowrap">examination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:2981.78px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:3221.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:3522.13px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11946px;left:3812.26px;white-space:nowrap">authorities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5760.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6010.66px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6240.67px;white-space:nowrap">technical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7001.1px;white-space:nowrap">merits. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7581.18px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7841.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8041.38px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8481.71px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8781.94px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9282.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9582.63px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5560.22px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6510.76px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6861.01px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7111.23px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7401.36px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7991.54px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8171.54px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8881.96px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9072.07px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9302.08px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6150.41px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6750.79px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6950.92px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7741.41px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8031.53px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8791.96px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9052.03px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9392.26px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5510.13px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6000.29px;white-space:nowrap">(or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6270.29px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7050.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7250.98px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7501.2px;white-space:nowrap">taken </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7991.54px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8181.65px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8691.94px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8982.07px;white-space:nowrap">years). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9582.19px;white-space:nowrap">Open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5510.13px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6000.29px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6310.46px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6800.8px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7151.04px;white-space:nowrap">remain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7751.25px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8371.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8571.71px;white-space:nowrap">examination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9592.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5530.17px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6070.61px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6320.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6621.06px;white-space:nowrap">statute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7211.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7411.55px;white-space:nowrap">limitations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8261.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8451.91px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8892.25px;white-space:nowrap">jurisdiction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9792.6px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5730.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6030.44px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6490.72px;white-space:nowrap">invests.&#160;</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1982.18px;left:5220px;white-space:nowrap">f. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1982.18px;left:5388.85px;white-space:nowrap">Security </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1982.18px;left:6191.43px;letter-spacing:-0.75px;white-space:nowrap">Transactions, </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1982.18px;left:7469.11px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1982.18px;left:8524.96px;white-space:nowrap">Income, </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2242.18px;left:5220px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2242.18px;left:6159.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2242.18px;left:6550.56px;white-space:nowrap">Distributions</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2572.64px;left:5220px;white-space:nowrap">Security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2572.64px;left:5920.22px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2572.64px;left:6940.72px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2572.64px;left:7250.89px;white-space:nowrap">accounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2572.64px;left:8131.55px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2572.64px;left:8391.62px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2572.64px;left:8641.85px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2572.64px;left:9102.13px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2822.64px;left:5220px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2822.64px;left:5970.41px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2822.64px;left:6450.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2822.64px;left:6801.06px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2822.64px;left:7361.28px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2822.64px;left:7611.5px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2822.64px;left:8281.67px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2822.64px;left:9302.17px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3072.64px;left:5220px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3072.64px;left:6170.54px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3072.64px;left:6420.76px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3072.64px;left:6570.88px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3072.64px;left:7221.09px;text-rendering:optimizeLegibility;white-space:nowrap">identification </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3072.64px;left:8271.74px;white-space:nowrap">basis. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3072.64px;left:8791.96px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3072.64px;left:9442.27px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3322.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3322.64px;left:5570.33px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3322.64px;left:6400.72px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3322.64px;left:7221.27px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3322.64px;left:7531.44px;white-space:nowrap">accrued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3322.64px;left:8221.82px;letter-spacing:-1.91px;white-space:nowrap">daily. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3322.64px;left:8668.74px;white-space:nowrap">Amortization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3322.64px;left:9719.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:5220px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:5970.15px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:6320.48px;white-space:nowrap">accretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:7100.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:7300.99px;white-space:nowrap">discount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:8021.43px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:8271.65px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:8671.99px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3572.64px;left:9482.26px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3822.64px;left:5220px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3822.64px;left:5940.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3822.64px;left:6130.63px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3822.64px;left:6770.92px;white-space:nowrap">income. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3822.64px;left:7451.19px;white-space:nowrap">Dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3822.64px;left:8201.6px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3822.64px;left:8831.87px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3822.64px;left:9011.87px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4072.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4072.64px;left:5470.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4072.64px;left:5770.46px;white-space:nowrap">ex-dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4072.64px;left:6741.04px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4072.64px;left:7191.39px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4072.64px;left:8231.75px;white-space:nowrap">to&#160;shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4072.64px;left:9522.51px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:5220px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:5980.43px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:6230.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:6530.89px;white-space:nowrap">ex-dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:7501.46px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:7951.82px;letter-spacing:-0.33px;white-space:nowrap">Effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:8678.94px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:9089.03px;white-space:nowrap">1, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4322.64px;left:9289.16px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4572.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4572.64px;left:5520.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4572.64px;left:5980.52px;white-space:nowrap">employs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4572.64px;left:6700.78px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4572.64px;left:6850.9px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4572.64px;left:7651.49px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4572.64px;left:8571.97px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4572.64px;left:9082.18px;white-space:nowrap">whereby </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4822.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4822.64px;left:5520.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4822.64px;left:5980.52px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4822.64px;left:6280.49px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4822.64px;left:6770.65px;white-space:nowrap">monthly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4822.64px;left:7450.93px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4822.64px;left:8461.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4822.64px;left:8661.53px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:5220px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:5420.13px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:5670.35px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:6260.89px;white-space:nowrap">minimum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:7040.92px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:7471.14px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:7831.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:8031.45px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:8541.74px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:9082.18px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5072.64px;left:9332.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:5220px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:5920.49px;white-space:nowrap">monthly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:6600.76px;letter-spacing:-3.34px;white-space:nowrap">NAV </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:7007.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:7207.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:7507.88px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:8094.9px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:8835.12px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5322.64px;left:9475.4px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:5520.23px;letter-spacing:-1.67px;white-space:nowrap">policy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:6067.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:6367.32px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:6827.61px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:7007.61px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:7808.2px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:8178.31px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:8328.43px;white-space:nowrap">goal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:8718.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5572.64px;left:8918.88px;white-space:nowrap">generating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:5460.12px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:5950.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:6150.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:6450.64px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:7371.12px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:7611.24px;white-space:nowrap">possible </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:8321.66px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:8731.67px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5822.64px;left:9031.9px;white-space:nowrap">ordinary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:5220px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:5850.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:6200.6px;white-space:nowrap">short-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:7070.71px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:7641.04px;white-space:nowrap">gains. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:8168.12px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:8528.29px;white-space:nowrap">balance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:9208.83px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6072.64px;left:9408.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:5220px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:6140.48px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:6440.45px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:6840.79px;white-space:nowrap">come </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:7330.96px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:7740.97px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:8551.23px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:9121.55px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322.64px;left:9601.88px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:5520.23px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:6060.59px;white-space:nowrap">permitted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:6860.92px;white-space:nowrap">and, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:7261.26px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:7401.27px;letter-spacing:-1.21px;white-space:nowrap">necessary, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:8308.3px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:8458.42px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:8978.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572.64px;left:9178.77px;white-space:nowrap">capital. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822.64px;left:5220px;white-space:nowrap">Distributable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822.64px;left:6270.47px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822.64px;left:7010.95px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822.64px;left:7321.11px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822.64px;left:8271.65px;white-space:nowrap">according </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822.64px;left:9102.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822.64px;left:9302.26px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:5510.13px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:6440.71px;white-space:nowrap">(tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:6790.78px;white-space:nowrap">basis) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:7320.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:7671.27px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:8061.33px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:8508.25px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072.64px;left:8918.26px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322.64px;left:5220px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322.64px;left:5980.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322.64px;left:6170.54px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322.64px;left:7151.13px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322.64px;left:7521.24px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322.64px;left:7921.32px;letter-spacing:-3.87px;white-space:nowrap">GAAP. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322.64px;left:8495.07px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322.64px;left:9045.35px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572.64px;left:5610.06px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572.64px;left:5860.28px;white-space:nowrap">permanent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572.64px;left:6770.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572.64px;left:6980.89px;letter-spacing:-1.21px;white-space:nowrap">temporary. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572.64px;left:7877.81px;white-space:nowrap">Permanent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572.64px;left:8808.31px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:5530.17px;text-rendering:optimizeLegibility;white-space:nowrap">reclassified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:6480.53px;white-space:nowrap">among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:7080.91px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:7651.23px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:8421.68px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:8621.81px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:9161.98px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822.64px;left:9562.15px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072.64px;left:5220px;letter-spacing:-0.9px;white-space:nowrap">character. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072.64px;left:6057.16px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072.64px;left:6607.44px;text-rendering:optimizeLegibility;white-space:nowrap">reclassifications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072.64px;left:7927.91px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072.64px;left:8368.24px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072.64px;left:8618.47px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072.64px;left:9198.63px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072.64px;left:9448.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.64px;left:5220px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.64px;left:5790.23px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.64px;left:6000.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.64px;left:6300.53px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.64px;left:6880.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.64px;left:7080.82px;white-space:nowrap">operations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.64px;left:8018.17px;letter-spacing:-2px;white-space:nowrap">Temporary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.64px;left:8918.44px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:5530.17px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:5830.4px;text-rendering:optimizeLegibility;white-space:nowrap">reclassified, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:6830.77px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:7070.89px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:7461.12px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:7851.18px;white-space:nowrap">reverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:8501.4px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572.64px;left:8691.5px;white-space:nowrap">subsequent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822.64px;left:5220px;white-space:nowrap">periods.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">Inflation-indexed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252.64px;left:6590.92px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252.64px;left:7131.36px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252.64px;left:7441.52px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252.64px;left:8172.07px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252.64px;left:8432.14px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252.64px;left:9102.57px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502.64px;left:5220px;white-space:nowrap">periodic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502.64px;left:5900.36px;white-space:nowrap">increases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502.64px;left:6720.73px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502.64px;left:6930.79px;white-space:nowrap">decreases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502.64px;left:7811.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502.64px;left:8001.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502.64px;left:8301.62px;white-space:nowrap">security&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502.64px;left:9096.15px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9752.64px;left:5220px;white-space:nowrap">accruals, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9752.64px;left:5990.27px;white-space:nowrap">face </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9752.64px;left:6380.51px;white-space:nowrap">amount, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9752.64px;left:7080.91px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9752.64px;left:7290.97px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9752.64px;left:8011.32px;white-space:nowrap">redemption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9752.64px;left:8961.86px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9752.64px;left:9492.19px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:5220px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:5960.39px;white-space:nowrap">corresponding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:7151.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:7351.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:7651.49px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:8011.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:8211.8px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:8882.23px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10002.64px;left:9122.34px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:5460.12px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:5710.34px;white-space:nowrap">index. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:6230.74px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:6590.92px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:7321.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:7531.35px;white-space:nowrap">decrease </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:8321.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:8511.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:8812.18px;white-space:nowrap">face </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10252.64px;left:9202.41px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:5430.06px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:6150.41px;white-space:nowrap">redemption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:7100.95px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:7581.27px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:7881.24px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:8131.46px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:8851.99px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10502.64px;left:9092.11px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10752.64px;left:5220px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10752.64px;left:5940.35px;white-space:nowrap">adjustments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10752.64px;left:6960.85px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10752.64px;left:7150.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10752.64px;left:7451.19px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10752.64px;left:8321.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10752.64px;left:8521.79px;white-space:nowrap">Operations.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.69px;white-space:nowrap">Organization </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1436.2px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1831.33px;text-rendering:optimizeLegibility;letter-spacing:-3.33px;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:2857.74px;letter-spacing:-3.64px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:3969.21px;letter-spacing:-3.5px;white-space:nowrap">Policies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:250.14px;left:0px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:0px;white-space:nowrap">c. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:211.25px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:1172.38px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:2048.72px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:682.94px;left:3188.9px;white-space:nowrap">(continued)</div></div>
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			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:51px;left:36px;position:absolute;top:74px;width:504px">
			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			</div>
		</div>
		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAT4CAYAAAC2UKHWAAAACXBIWXMAABcRAAAXEQHKJvM/AAAfF0lEQVR4XuzbsW0DQRAEwQ9NoTGbBwEGocxeYgQ9xpll1FkdwWDvep7nAgAAADghAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWG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			<div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:609.54px;left:0px;white-space:nowrap">g. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:609.54px;left:214.58px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:609.54px;left:1312.28px;white-space:nowrap">Estimates</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:940px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:940px;left:360.18px;white-space:nowrap">preparation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:940px;left:1320.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:940px;left:1520.95px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:940px;left:2231.37px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:940px;left:3161.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:940px;left:3351.88px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:940px;left:4332.48px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1190px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1190px;left:400.08px;letter-spacing:-0.65px;white-space:nowrap">GAAP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1190px;left:947.02px;white-space:nowrap">requires </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1190px;left:1647.33px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1190px;left:2747.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1190px;left:2948.12px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1190px;left:3438.28px;white-space:nowrap">estimates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1190px;left:4258.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1440px;left:0px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1440px;left:1060.49px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1440px;left:1410.73px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1440px;left:1897.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1440px;left:2197.97px;white-space:nowrap">reported </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1440px;left:2918.41px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1440px;left:3658.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1440px;left:3858.93px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:350.33px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:1080.62px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:1280.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:1580.98px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:1981.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:2181.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:2481.68px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:3192.1px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1690px;left:4122.51px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:300.23px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:1040.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:1240.75px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:1871.02px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:2221.35px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:3041.89px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:3592.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1940px;left:3892.5px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2190px;left:0px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2190px;left:590.45px;white-space:nowrap">Actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2190px;left:1140.73px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2190px;left:1720.9px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2190px;left:2201.22px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2190px;left:2648.14px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2190px;left:3058.15px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2190px;left:3548.5px;white-space:nowrap">estimates.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:-22.54px;left:5220px;white-space:nowrap">h. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:-22.54px;left:5441.64px;white-space:nowrap">Guarantees </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:-22.54px;left:6539.89px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:-22.54px;left:6930.46px;text-rendering:optimizeLegibility;white-space:nowrap">Indemnifications</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:5220px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:5760.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:6060.5px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:6645.15px;white-space:nowrap">organizational </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:7815.94px;white-space:nowrap">documents, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:8796.45px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:9026.46px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:5570.33px;white-space:nowrap">trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:6260.62px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:6570.79px;text-rendering:optimizeLegibility;white-space:nowrap">indemnified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:7541.37px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:7781.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:8081.72px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:8542px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:9172.44px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:5220px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:5950.28px;white-space:nowrap">arising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:6530.54px;white-space:nowrap">out </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:6830.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:7030.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:7331.13px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:8391.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:8591.75px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:8991.91px;white-space:nowrap">duties </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:9522.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:5520.23px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:6020.6px;letter-spacing:-0.95px;white-space:nowrap">Additionally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:7027.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:7217.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:7518.16px;white-space:nowrap">normal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:8118.37px;white-space:nowrap">course </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:8708.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:8908.77px;white-space:nowrap">business, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:9719.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:5680.28px;white-space:nowrap">enters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:6230.57px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:6570.79px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:7351.08px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:7721.19px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:8341.35px;white-space:nowrap">providers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:9131.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:9481.9px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:5220px;white-space:nowrap">general </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:5870.48px;text-rendering:optimizeLegibility;white-space:nowrap">indemnification </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:7121.16px;white-space:nowrap">clauses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:7828.24px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:8188.42px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:8773.07px;white-space:nowrap">maximum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1807.92px;left:5220px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1807.92px;left:6010.49px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1807.92px;left:6520.87px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1807.92px;left:7011.21px;white-space:nowrap">arrangements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1807.92px;left:8171.81px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1807.92px;left:8351.81px;white-space:nowrap">unknown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1807.92px;left:9122.34px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1807.92px;left:9362.46px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:5220px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:5740.31px;white-space:nowrap">involve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:6350.62px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:6860.92px;white-space:nowrap">claims </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:7420.96px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:7771.2px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:8161.26px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:8411.48px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:8911.76px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.92px;left:9542.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:5680.28px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:6030.53px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:6470.86px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:6771.09px;white-space:nowrap">yet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:7061.22px;white-space:nowrap">occurred. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:7861.55px;letter-spacing:-1.21px;white-space:nowrap">Currently, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:8678.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:8978.64px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.92px;left:9438.93px;white-space:nowrap">expects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.92px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.92px;left:5520.23px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.92px;left:5850.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.92px;left:6050.3px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.92px;left:6420.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.92px;left:6620.54px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.92px;left:6870.76px;white-space:nowrap">remote.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3140.99px;left:0px;letter-spacing:-2.67px;white-space:nowrap">2. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3140.99px;left:210.36px;letter-spacing:-3.43px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3140.99px;left:905.02px;letter-spacing:-2.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3140.99px;left:1137.36px;text-rendering:optimizeLegibility;letter-spacing:-3.27px;white-space:nowrap">Beneficial </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3140.99px;left:2097.75px;letter-spacing:-3.5px;white-space:nowrap">Interest</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:1461.09px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:1921.38px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:2361.53px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:2611.76px;white-space:nowrap">unlimited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:3382.12px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:4042.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:4242.57px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:4832.84px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:5723.44px;white-space:nowrap">(without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:6403.71px;white-space:nowrap">par </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:6713.88px;white-space:nowrap">value). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:7304.15px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:7884.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:8184.64px;white-space:nowrap">period&#160;ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3508.72px;left:9285.56px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:0px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:300.23px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:750.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:1101.01px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:1501.17px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:2051.72px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:2932.03px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:3232.27px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:3682.71px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:4142.99px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:4583.14px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:4833.37px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:5423.64px;white-space:nowrap">issued; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:6043.97px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:6274.07px;white-space:nowrap">reinvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:7154.56px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:8165.04px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:8605.2px;text-rendering:optimizeLegibility;white-space:nowrap">satisfied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3758.72px;left:9315.53px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4008.72px;left:0px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4008.72px;left:860.36px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4008.72px;left:1430.68px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4008.72px;left:2020.96px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4008.72px;left:2911.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4008.72px;left:3101.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4008.72px;left:3401.89px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4008.72px;left:3852.33px;white-space:nowrap">market. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:0px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:540.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:840.5px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:1370.83px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:2171.43px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:3231.91px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:3732.19px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:4682.72px;white-space:nowrap">program, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:5453px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:5753.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:6213.52px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:6603.57px;white-space:nowrap">purchase, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:7444.07px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:7854.08px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:8244.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:8444.27px;white-space:nowrap">time, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:8884.34px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:9344.62px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4438.72px;left:9934.89px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:0px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:1060.49px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:2131px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:2331.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:2631.36px;white-space:nowrap">discretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:3451.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:3651.86px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:4802.52px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:5302.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:5603.03px;white-space:nowrap">inception </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:6373.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:6573.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:6873.93px;white-space:nowrap">program, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:7644.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:7944.43px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:8404.72px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:8744.94px;white-space:nowrap">repurchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4688.72px;left:9795.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:0px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:390.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:590.36px;letter-spacing:-1.21px;white-space:nowrap">11,210,400 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:1527.89px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:2168.17px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:2748.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:3048.66px;white-space:nowrap">period&#160;ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:4149.58px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:4589.91px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:4890.15px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:5340.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:5690.92px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:6091.08px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:6641.63px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:7521.94px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:7822.18px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:8322.63px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:8782.91px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:9223.07px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4938.72px;left:9473.29px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5188.72px;left:0px;white-space:nowrap">repurchased.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5771.79px;left:0px;letter-spacing:-0.89px;white-space:nowrap">3. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5771.79px;left:210.36px;letter-spacing:-4.54px;white-space:nowrap">Transactions </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5771.79px;left:1447.72px;letter-spacing:-3.2px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5771.79px;left:1875.77px;text-rendering:optimizeLegibility;letter-spacing:-3.2px;white-space:nowrap">Affiliates</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:690.21px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:1650.59px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:1990.72px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:2170.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:2470.96px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:3101.48px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:3881.87px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:4141.93px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:4772.2px;white-space:nowrap">subsidiaries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:5772.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:6122.9px;white-space:nowrap">together </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:6833.41px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:7143.57px;white-space:nowrap">referred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:7823.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:8023.97px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:8264.09px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6139.52px;left:8951.04px;letter-spacing:-1.81px;white-space:nowrap">Templeton. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:0px;white-space:nowrap">Certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:630.26px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:1260.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:1610.77px;white-space:nowrap">trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:2301.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:2501.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:2801.43px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:3261.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:3571.88px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:3952.09px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:4582.27px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:5142.66px;white-space:nowrap">directors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:5882.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:6083px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:6383.23px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6389.52px;left:7133.64px;white-space:nowrap">subsidiaries: </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7907.51px;left:0px;white-space:nowrap">a. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7907.51px;left:211.25px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7907.51px;left:1425.37px;white-space:nowrap">Fees</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:820.46px;white-space:nowrap">pays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:1250.68px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:1500.91px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:2421.3px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:3521.95px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:3822.19px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:4012.38px;white-space:nowrap">Advisers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:4752.6px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:5293.04px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:5543.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:5843.5px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:6543.98px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:6964.19px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:7264.42px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:7834.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:8034.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:8335.02px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:8795.3px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8237.98px;left:9035.42px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:320.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:620.24px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:1170.62px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:1721.16px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:2161.49px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:2461.73px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:2962.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:3262.41px;white-space:nowrap">annualized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:4183.15px;white-space:nowrap">gross </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:4673.32px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:5390.42px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:6310.81px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:7411.46px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:7711.7px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:8071.88px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:8441.98px;white-space:nowrap">0.647% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:9102.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11341.34px;left:9302.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11591.34px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11591.34px;left:587.02px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11591.34px;left:1287.51px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11591.34px;left:1707.71px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11591.34px;left:2007.95px;white-space:nowrap">assets.&#160;</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6862.94px;left:0px;white-space:nowrap">Subsidiary</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6862.94px;left:5040px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7139.43px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7139.43px;left:604.69px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7139.43px;left:1307.11px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7139.43px;left:1609.45px;white-space:nowrap">(Advisers)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7139.43px;left:5040px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7139.43px;left:5867.03px;white-space:nowrap">manager</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7415.91px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7415.91px;left:610.63px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7415.91px;left:1393.28px;white-space:nowrap">Services, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7415.91px;left:2095.7px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7415.91px;left:2433.67px;letter-spacing:-0.72px;white-space:nowrap">(FT </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7415.91px;left:2723.98px;white-space:nowrap">Services)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7415.91px;left:5040px;white-space:nowrap">Administrative </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7415.91px;left:6089.22px;white-space:nowrap">manager</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8711.39px;left:0px;white-space:nowrap">Annualized </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8711.39px;left:897.81px;white-space:nowrap">Fee </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8711.39px;left:1217.97px;white-space:nowrap">Rate</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8711.39px;left:5040px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8711.39px;left:5336.33px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8987.88px;left:0px;white-space:nowrap">0.700%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8987.88px;left:5040px;white-space:nowrap">Up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8987.88px;left:5288.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8987.88px;left:5466.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8987.88px;left:5778.28px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8987.88px;left:6454.3px;white-space:nowrap">$200 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8987.88px;left:6854.69px;white-space:nowrap">million</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:0px;white-space:nowrap">0.635%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:5431.17px;white-space:nowrap">$200 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:5831.56px;white-space:nowrap">million, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:6373.91px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:6596.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:6774.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:7085.63px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:7761.64px;white-space:nowrap">$700 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9264.36px;left:8162.03px;white-space:nowrap">million</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:0px;white-space:nowrap">0.600%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:5431.17px;white-space:nowrap">$700 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:5831.56px;white-space:nowrap">million, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:6373.91px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:6596.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:6774.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:7085.63px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:7761.64px;white-space:nowrap">$1 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9540.85px;left:7984.06px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:0px;white-space:nowrap">0.580%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:5431.17px;white-space:nowrap">$1 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:5653.59px;white-space:nowrap">billion, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:6151.64px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:6374.06px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:6551.95px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:6863.36px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:7539.38px;white-space:nowrap">$5 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9817.33px;left:7761.8px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:0px;white-space:nowrap">0.560%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:5431.17px;white-space:nowrap">$5 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:5653.59px;white-space:nowrap">billion, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:6151.64px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:6374.06px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:6551.95px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:6863.36px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:7539.38px;white-space:nowrap">$10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10093.82px;left:7850.78px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:0px;white-space:nowrap">0.540%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:5431.17px;white-space:nowrap">$10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:5742.58px;white-space:nowrap">billion, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:6240.63px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:6463.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:6640.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:6952.34px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:7628.36px;white-space:nowrap">$15 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10370.3px;left:7939.77px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:0px;white-space:nowrap">0.520%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:5431.17px;white-space:nowrap">$15 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:5742.58px;white-space:nowrap">billion, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:6240.63px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:6463.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:6640.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:6952.34px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:7628.36px;white-space:nowrap">$20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10646.78px;left:7939.77px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10923.27px;left:0px;white-space:nowrap">0.500%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10923.27px;left:5040px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10923.27px;left:5217.89px;white-space:nowrap">excess </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10923.27px;left:5760.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10923.27px;left:5938.2px;white-space:nowrap">$20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10923.27px;left:6249.61px;white-space:nowrap">billion</div></div>
		</div>
		<div style="height:35px;left:36px;position:absolute;top:121px;width:242px">
			<div style="width:4860px;height:338px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.69px;white-space:nowrap">Organization </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1436.2px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1831.33px;text-rendering:optimizeLegibility;letter-spacing:-3.33px;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:2857.74px;letter-spacing:-3.64px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:3969.21px;letter-spacing:-3.5px;white-space:nowrap">Policies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:202.14px;left:0px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6428.83px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6987px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7239.48px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8076.36px;letter-spacing:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9107.58px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">29</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5369.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:417.54px;left:0px;white-space:nowrap">b. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:417.54px;left:214.58px;white-space:nowrap">Administrative </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:417.54px;left:1587.17px;white-space:nowrap">Fees</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:0px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:540.26px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:790.49px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:1701.04px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:2061.21px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:2851.44px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:3118.1px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:3858.31px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:4588.68px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:5749.1px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:6459.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:6659.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:6959.62px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:7466.66px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:7826.84px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:8127.07px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:8307.07px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:8697.39px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:8927.58px;white-space:nowrap">Advisers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:790.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:1090.9px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:1675.55px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:2376.04px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:2796.24px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:3096.47px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:3716.72px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:4067.05px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:4247.05px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:4547.29px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:4797.51px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:5618.14px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:6348.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:6548.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:6849.05px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:0px;white-space:nowrap">c. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:211.25px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:1372.77px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:1587.35px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliated </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:2452.93px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:3667.06px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:4722.91px;white-space:nowrap">Companies</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:820.46px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:1430.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:1620.79px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:1971.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:2181.18px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:2641.29px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:3361.73px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:4462.38px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:5382.77px;white-space:nowrap">companies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:6343.33px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:6603.4px;text-rendering:optimizeLegibility;white-space:nowrap">defined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:7243.95px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:7434.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:7734.29px;white-space:nowrap">1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:8174.79px;white-space:nowrap">Act, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:8534.88px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:8785.11px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:180px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:880.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:1080.62px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:1330.84px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:1480.96px;white-space:nowrap">&#8220;Controlled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:2401.44px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliate&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:3101.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:3301.79px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:3451.9px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:3852.25px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:4332.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:4482.69px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:4883.03px;white-space:nowrap">owns, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:5403.25px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:5903.53px;white-space:nowrap">directly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:6523.68px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:6733.74px;letter-spacing:-1.11px;white-space:nowrap">indirectly, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:7530.64px;white-space:nowrap">25% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:7940.92px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:8150.98px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:8611.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:8811.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:9111.45px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:0px;letter-spacing:-0.46px;white-space:nowrap">fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:527.08px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:1507.85px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:2098.13px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:2308.18px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:2648.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:2948.64px;white-space:nowrap">power </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:3488.91px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:3689.03px;white-space:nowrap">exercise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:4409.3px;white-space:nowrap">control </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:4999.57px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:5399.74px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:6500.39px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:6710.45px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:7360.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:7560.88px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:7991.1px;white-space:nowrap">fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:8438.2px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:8798.38px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:9258.66px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2332px;left:9698.99px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:0px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:520.22px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:780.29px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:1570.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:1770.91px;white-space:nowrap">exercising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:2631.27px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:2781.39px;white-space:nowrap">controlling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:3651.86px;text-rendering:optimizeLegibility;white-space:nowrap">influence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:4422.39px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:4822.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:5122.79px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:6223.45px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:6433.51px;white-space:nowrap">policies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:7133.82px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:8234.47px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:8624.71px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:9015.03px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:9255.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2582px;left:9555.38px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:0px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:310.17px;white-space:nowrap">waived </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:920.48px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:1170.7px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:1740.94px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:2461.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:2651.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:2951.72px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:3672.16px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:4772.81px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:5693.2px;white-space:nowrap">companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:6663.69px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:6903.81px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:7404.26px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:7594.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:7894.6px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:8765.07px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:8965.2px;white-space:nowrap">Operations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:190.11px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:440.33px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:1090.72px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:1390.96px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:1591.08px;white-space:nowrap">exceed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:2221.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:2521.76px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:3622.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:3972.74px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:5133.16px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:5523.4px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:5913.72px;white-space:nowrap">directly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:6533.88px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:6743.94px;white-space:nowrap">indirectly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:7504.19px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:7744.31px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:8184.64px;text-rendering:optimizeLegibility;white-space:nowrap">affiliate. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:8854.98px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:9435.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:0px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:550.37px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:1100.92px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:1541.25px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:1841.48px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:2341.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:2642.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:3102.45px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:3492.77px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:4503.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:4693.27px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:5413.71px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:6514.37px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:7434.76px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:8355.23px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:8595.35px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6655.82px;left:0px;letter-spacing:-0.89px;white-space:nowrap">4. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6655.82px;left:210.36px;letter-spacing:-3.43px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6655.82px;left:938.13px;letter-spacing:-6.17px;white-space:nowrap">Taxes</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:320.01px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:610.14px;white-space:nowrap">purposes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:1450.63px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:2020.96px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:2581.17px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:2971.23px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:3221.46px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:3821.66px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:4221.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:4421.95px;letter-spacing:-0.46px;white-space:nowrap">offset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:4908.96px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:5419.25px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7023.55px;left:5989.57px;white-space:nowrap">gains. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:2201.31px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:2771.63px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:3141.74px;white-space:nowrap">carryforwards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:4281.94px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:4722.1px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7453.55px;left:4962.22px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:320.01px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:610.14px;white-space:nowrap">purposes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:1450.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:1750.87px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:2211.15px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:2601.21px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:3031.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:3231.56px;white-space:nowrap">defer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:3691.85px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:4032.07px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:4632.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:4832.58px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:4982.7px;white-space:nowrap">post-October </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:6073.15px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:6643.48px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:7013.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:7223.64px;white-space:nowrap">late-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:7973.96px;white-space:nowrap">ordinary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:8674.28px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:9044.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:9244.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9115.49px;left:9544.75px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:0px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:340.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:540.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:840.59px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:1591px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:2051.1px;letter-spacing:-1.66px;white-space:nowrap">year. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:2481.42px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:2701.49px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:3581.81px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:3882.04px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:4382.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:4682.72px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:5143.01px;white-space:nowrap">deferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:5863.45px;white-space:nowrap">late-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:6613.77px;white-space:nowrap">ordinary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:7314.08px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:7874.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9365.49px;left:8074.42px;white-space:nowrap">$24,138,728.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:1461.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:1761.33px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:2141.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:2341.58px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:3351.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:3702.3px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:4002.54px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:4883.12px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:5913.81px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:7064.38px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:7324.45px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:7954.72px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:8244.84px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:9035.33px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9795.49px;left:9475.49px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10045.49px;left:0px;white-space:nowrap">follows:</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:1796.13px;white-space:nowrap">&#160;&#160;&#160;&#160;aa</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3987px;left:2599.98px;letter-spacing:-1.2px;white-space:nowrap">Value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3987px;left:2979.36px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:2454.59px;white-space:nowrap">Beginning</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:2527.41px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:2687.72px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:3512.33px;white-space:nowrap">Purchases</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:4913.11px;white-space:nowrap">Sales</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:5403.45px;white-space:nowrap">Realized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:5972.28px;white-space:nowrap">Gain </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:5870.41px;white-space:nowrap">(Loss)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3795px;left:6389.97px;white-space:nowrap">Net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3795px;left:6637.78px;white-space:nowrap">Change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3795px;left:7155.36px;white-space:nowrap">in</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3987px;left:6608.48px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:6470.12px;white-space:nowrap">Appreciation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:6389.97px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3987px;left:7865.11px;letter-spacing:-1.44px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:7807.06px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:7960.19px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:7639.41px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:7799.72px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3795px;left:8488.06px;white-space:nowrap">Number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3795px;left:9020.17px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3987px;left:8385.64px;white-space:nowrap">Shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3987px;left:8859.7px;white-space:nowrap">Held </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:8743.06px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:8896.19px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:8575.41px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:8735.72px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4179px;left:9387.34px;white-space:nowrap">Investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4371px;left:9620.63px;white-space:nowrap">Income</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:4619.55px;left:0px;white-space:nowrap">a&#160;&#160;&#160;&#160;&#160;&#160;</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:4619.55px;left:3091.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:4619.55px;left:4171.44px;letter-spacing:-1.14px;white-space:nowrap">a&#160;&#160; </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:4619.55px;left:6259.44px;letter-spacing:-1.14px;white-space:nowrap">a&#160;&#160; </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:4619.55px;left:7267.44px;letter-spacing:-1.14px;white-space:nowrap">a&#160;&#160; </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:4619.55px;left:8203.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:4619.55px;left:9139.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:4619.55px;left:10075.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4718.76px;left:0px;letter-spacing:-0.96px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4718.76px;left:690.23px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4718.76px;left:1135.08px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4718.76px;left:1630.94px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4979.25px;left:0px;white-space:nowrap">Non-Controlled </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4979.25px;left:986.33px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliates</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5207.73px;left:9503.91px;white-space:nowrap">Dividends</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5468.22px;left:0px;white-space:nowrap">Institutional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5468.22px;left:700.31px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5468.22px;left:1266.8px;letter-spacing:-0.79px;white-space:nowrap">Trust </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5468.22px;left:1597.42px;white-space:nowrap">- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5468.22px;left:1677.58px;white-space:nowrap">Money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:437.5px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:991.8px;white-space:nowrap">0.01%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:1367.11px;letter-spacing:59.51px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:2366.31px;white-space:nowrap">$62,199,567</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:3373.34px;white-space:nowrap">$351,574,069</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:4366px;white-space:nowrap">$(380,359,567)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:6059.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:7067.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:7478.31px;white-space:nowrap">$33,414,069</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:8440.28px;letter-spacing:0px;white-space:nowrap">33,414,069</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5660.22px;left:9678.67px;white-space:nowrap">$1,645</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6007.98px;left:0px;letter-spacing:-1.6px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6007.98px;left:335.55px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6007.98px;left:933.28px;white-space:nowrap">Securities</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6007.98px;left:1623.44px;letter-spacing:67.41px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6007.98px;left:2366.31px;white-space:nowrap">$62,199,567</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6007.98px;left:3373.34px;white-space:nowrap">$351,574,069</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6007.98px;left:4366px;white-space:nowrap">$(380,359,567)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6007.98px;left:6059.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6007.98px;left:7067.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6007.98px;left:7478.31px;white-space:nowrap">$33,414,069</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6007.98px;left:9678.67px;white-space:nowrap">$1,645</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7918.97px;left:0px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7918.97px;left:542.5px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7918.97px;left:871.48px;white-space:nowrap">carryforwards </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7918.97px;left:1885px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7918.97px;left:2151.88px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7918.97px;left:2703.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7918.97px;left:2881.17px;white-space:nowrap">expiration:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8179.45px;left:144px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8179.45px;left:570.88px;white-space:nowrap">term</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8179.45px;left:934.13px;letter-spacing:49.46px;white-space:nowrap">................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8179.45px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">$6,911,695</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8439.94px;left:144px;white-space:nowrap">Long </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8439.94px;left:544.39px;white-space:nowrap">term</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8439.94px;left:934.13px;letter-spacing:49.46px;white-space:nowrap">................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8439.94px;left:9279.22px;white-space:nowrap">59,967,064</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8700.42px;left:288px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8700.42px;left:670.42px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8700.42px;left:1177.38px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8700.42px;left:1506.36px;white-space:nowrap">carryforwards</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8700.42px;left:2522.15px;letter-spacing:49.59px;white-space:nowrap">...............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8700.42px;left:9190.23px;white-space:nowrap">$66,878,759</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10478.91px;left:0px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10478.91px;left:373.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10478.91px;left:551.33px;white-space:nowrap">investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10478.91px;left:1494.61px;letter-spacing:49.5px;white-space:nowrap">..........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10478.91px;left:9101.25px;white-space:nowrap">$827,646,513</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10884.85px;left:0px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10884.85px;left:809.3px;white-space:nowrap">appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10884.85px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10884.85px;left:9190.23px;white-space:nowrap">$47,140,475</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11145.33px;left:0px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11145.33px;left:809.3px;white-space:nowrap">depreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11145.33px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11145.33px;left:9095.55px;letter-spacing:-0.91px;white-space:nowrap">(117,806,053)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11405.81px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11405.81px;left:293.44px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11405.81px;left:1076.17px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11405.81px;left:1992.34px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11405.81px;left:2989.22px;letter-spacing:49.65px;white-space:nowrap">..........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11405.81px;left:9083.67px;white-space:nowrap">$(70,665,578)</div></div>
		</div>
		<div style="height:25px;left:54px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">3. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-4.54px;white-space:nowrap">Transactions </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1447.72px;letter-spacing:-3.2px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1875.77px;text-rendering:optimizeLegibility;letter-spacing:-3.6px;white-space:nowrap">Affiliates</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2725.65px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:50px;left:36px;position:absolute;top:32px;width:503px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:558.17px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:810.66px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1647.53px;letter-spacing:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2678.75px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></div>
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		<div style="background-color:transparent;height:1px;left:36px;position:absolute;top:744px;width:504px">

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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;letter-spacing:-0.27px;white-space:nowrap">Differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:957.13px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1687.68px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2317.94px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2878.33px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3448.65px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3928.97px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4169.09px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5119.63px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5369.85px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5519.97px;white-space:nowrap">book </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5960.3px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6430.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6780.85px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6930.97px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7221.09px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7691.31px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8001.47px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8731.49px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9081.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9281.95px;letter-spacing:-0.33px;white-space:nowrap">differing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">treatments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:900.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1100.48px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1700.86px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2441.07px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3511.58px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4081.9px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4562.23px;white-space:nowrap">tax, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4902.36px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5352.8px;white-space:nowrap">discounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:6163.24px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:6513.57px;white-space:nowrap">premiums, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:7403.73px;white-space:nowrap">swaps, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8013.96px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8304.08px;white-space:nowrap">straddles </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:9084.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:9434.79px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:0px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:600.38px;white-space:nowrap">adjustments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1620.88px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1871.1px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2471.48px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1427.07px;left:0px;letter-spacing:-2.67px;white-space:nowrap">5. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1427.07px;left:210.36px;letter-spacing:-3.64px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1427.07px;left:1277.79px;letter-spacing:-4.59px;white-space:nowrap">Transactions</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:0px;white-space:nowrap">Purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:900.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:1250.77px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:1720.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:1921.11px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:2931.5px;white-space:nowrap">(excluding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:3801.97px;white-space:nowrap">short </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:4252.15px;white-space:nowrap">term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:4662.16px;white-space:nowrap">securities) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:5532.36px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:5792.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:6092.67px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:6643.04px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:7193.58px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:7633.92px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:7934.15px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:8434.6px;white-space:nowrap">aggregated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:0px;white-space:nowrap">$345,585,510 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:1151.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:1501.44px;white-space:nowrap">$309,081,826, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:2702.55px;letter-spacing:-1.03px;white-space:nowrap">respectively.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2627.87px;left:0px;letter-spacing:-2.67px;white-space:nowrap">6. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2627.87px;left:210.36px;letter-spacing:-3.33px;white-space:nowrap">Credit&#160;Risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:1461.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:1761.33px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:2221.61px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:2571.94px;white-space:nowrap">24.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:3132.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:3332.46px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:3562.47px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:4252.85px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:4973.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:5163.4px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:5553.72px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:5973.93px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:6183.98px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:6644.27px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:7454.53px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:7914.81px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:8435.13px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2995.6px;left:9355.52px;white-space:nowrap">grade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:350.33px;white-space:nowrap">unrated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:1010.83px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:1867.85px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:2418.13px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:3228.4px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:3618.46px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:3868.68px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:4328.79px;white-space:nowrap">sensitive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:5079.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:5279.24px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:6099.61px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:6960.15px;white-space:nowrap">causing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:7630.58px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:8250.91px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:8691.06px;white-space:nowrap">volatility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:9381.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3245.6px;left:9731.6px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:0px;white-space:nowrap">potentially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:860.54px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:1480.87px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:1681px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:1831.11px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:2451.45px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:2781.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:2981.51px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:3351.62px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:3701.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:3902.08px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:4492.53px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:4892.87px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:5443.24px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3495.6px;left:5903.53px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4078.67px;left:0px;letter-spacing:-0.89px;white-space:nowrap">7. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4078.67px;left:210.36px;letter-spacing:-3.71px;white-space:nowrap">Concentration </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4078.67px;left:1565.5px;letter-spacing:-2.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4078.67px;left:1797.83px;letter-spacing:-2.4px;white-space:nowrap">Risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:0px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:1020.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:1210.52px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:1830.67px;white-space:nowrap">domiciled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:2641.03px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:2851.08px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:3221.19px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:4071.62px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:4962.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:5152.32px;white-space:nowrap">developing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:6073.07px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:6283.13px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:7083.54px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:7683.66px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:8464.04px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:8854.1px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:9104.33px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4446.4px;left:9724.66px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:0px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:550.37px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:970.31px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:1370.65px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:2381.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:2571.15px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:3451.9px;white-space:nowrap">countries. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:4279.04px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:4829.33px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:5249.27px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:5869.69px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:6740.24px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:7480.46px;white-space:nowrap">values, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:8100.79px;white-space:nowrap">underdeveloped </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4696.4px;left:9441.91px;white-space:nowrap">legal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:210.06px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:970.49px;white-space:nowrap">systems, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:1730.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:2080.9px;white-space:nowrap">changing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:2861.54px;white-space:nowrap">local </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:3281.75px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:3632.08px;white-space:nowrap">regional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:4322.55px;white-space:nowrap">economic, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:5192.93px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:5843.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:6193.56px;white-space:nowrap">social </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:6703.77px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:7614.32px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:8124.52px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:8514.58px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:9004.75px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4946.4px;left:9194.85px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:600.12px;letter-spacing:-1.11px;white-space:nowrap">volatility. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:1326.97px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:1527.1px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:2257.65px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:2847.92px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:3448.3px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:4258.56px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:4648.62px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:4948.86px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:5199.08px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:5439.2px;white-space:nowrap">liquid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:5909.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:6149.62px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:6549.7px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:7409.97px;white-space:nowrap">Currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:8330.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:8530.4px;white-space:nowrap">developing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5196.4px;left:9451.14px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:0px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:800.42px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:1400.54px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:2180.92px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:2570.98px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:2821.2px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:3441.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:3641.66px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:4622.08px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:5242.41px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:5662.35px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:6062.7px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:6943.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:7143.13px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:8023.89px;white-space:nowrap">countries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:8854.28px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5446.4px;left:9614.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:0px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:730.55px;white-space:nowrap">inability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:1380.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:1580.98px;white-space:nowrap">repatriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:2391.42px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:2881.76px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:3762.07px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:4102.29px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5696.4px;left:4502.37px;white-space:nowrap">dollars.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:1461.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:1761.33px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:2221.61px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:2571.94px;white-space:nowrap">2.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:3032.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:3232.35px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:3462.36px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:3762.6px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:4332.83px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:5423.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:5603.82px;white-space:nowrap">Argentine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:6424.37px;white-space:nowrap">Pesos. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:7014.73px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:7835.27px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:8175.5px;white-space:nowrap">restricted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6126.4px;left:8965.72px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:0px;white-space:nowrap">repatriation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:950.54px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:1420.75px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:2351.25px;white-space:nowrap">2019, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:2851.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:3202.03px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:3552.36px;white-space:nowrap">restructured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:4562.75px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:5153.03px;white-space:nowrap">issues </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:5713.24px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:5913.37px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:6143.38px;white-space:nowrap">debt. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:6593.73px;white-space:nowrap">Political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:7263.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:7614.32px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:8434.69px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6376.4px;left:9295.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:0px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:820.55px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:1300.87px;white-space:nowrap">continue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:2031.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:2231.54px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:2718.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:3018.78px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:3499.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:3699.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:3999.46px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6626.4px;left:4584.11px;white-space:nowrap">holdings.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7209.47px;left:0px;letter-spacing:-2.67px;white-space:nowrap">8. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7209.47px;left:210.36px;letter-spacing:-3.33px;white-space:nowrap">Novel </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7209.47px;left:786.56px;letter-spacing:-3.67px;white-space:nowrap">Coronavirus </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7209.47px;left:1972.15px;letter-spacing:-4px;white-space:nowrap">Pandemic&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:360.18px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:890.6px;white-space:nowrap">outbreak </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:1641.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:1841.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:2141.46px;white-space:nowrap">novel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:2621.78px;white-space:nowrap">coronavirus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:3602.2px;white-space:nowrap">disease, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:4322.64px;white-space:nowrap">known </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:4892.96px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:5133.08px;white-space:nowrap">COVID-19,&#160;has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:6403.54px;white-space:nowrap">caused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:7033.97px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:7724.36px;letter-spacing:-0.41px;white-space:nowrap">effects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:8301.36px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:8551.58px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.2px;left:9041.75px;white-space:nowrap">companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:0px;white-space:nowrap">sectors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:680.19px;white-space:nowrap">nations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:1360.63px;white-space:nowrap">regions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:2001.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:2351.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:2651.57px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:3341.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:3531.8px;white-space:nowrap">general,&#160;and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:4582.62px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:4972.68px;white-space:nowrap">continue&#160;for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:5963.29px;white-space:nowrap">an&#160;unpredictable&#160;duration. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:8091.56px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:8451.74px;letter-spacing:-0.41px;white-space:nowrap">effects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:9028.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.2px;left:9228.87px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:0px;white-space:nowrap">pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:830.48px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:1220.54px;white-space:nowrap">materially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:2040.73px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:2620.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:2921.13px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:3401.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:3751.79px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:4812.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:5012.4px;white-space:nowrap">the&#160;Fund,&#160;its&#160;ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:6563.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:6763.27px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:7103.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:7453.83px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:7773.93px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:8174.27px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8077.2px;left:9184.66px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8327.2px;left:0px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8327.2px;left:960.64px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8327.2px;left:1821.18px;white-space:nowrap">and&#160;its&#160;ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8327.2px;left:2911.73px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8327.2px;left:3111.86px;white-space:nowrap">achieve&#160;its&#160;investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8327.2px;left:4932.69px;white-space:nowrap">objectives.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8910.27px;left:0px;letter-spacing:-2.67px;white-space:nowrap">9. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8910.27px;left:210.36px;letter-spacing:-3.33px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8910.27px;left:775.33px;letter-spacing:-3.64px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8910.27px;left:1743.05px;letter-spacing:-3.64px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:1461.09px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:2471.48px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:2661.59px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:3481.96px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:4262.26px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:4572.42px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:5312.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:5502.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:5803.15px;white-space:nowrap">Statement&#160;of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:6863.82px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:7454px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:7804.34px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:8594.74px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9278px;left:8834.85px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9787.1px;left:3508.93px;white-space:nowrap">Asset </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9787.1px;left:3989.16px;white-space:nowrap">Derivatives</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9787.1px;left:7456.55px;white-space:nowrap">Liability </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9787.1px;left:8105.54px;white-space:nowrap">Derivatives</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10047.59px;left:0px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10047.59px;left:809.38px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:0px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:305.08px;white-space:nowrap">Accounted </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:1176.25px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:1433.98px;white-space:nowrap">as</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10431.59px;left:0px;white-space:nowrap">Hedging </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10431.59px;left:684.38px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10047.59px;left:2304px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10047.59px;left:3121.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:2304px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:2873.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:3202.13px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10431.59px;left:2304px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10431.59px;left:5292.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10431.59px;left:5629.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10047.59px;left:6408px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10047.59px;left:7225.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:6408px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:6977.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10239.59px;left:7306.13px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10431.59px;left:6408px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10431.59px;left:9324.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10431.59px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10747.35px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10747.35px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10747.35px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10747.35px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11007.84px;left:0px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11007.84px;left:586.95px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11007.84px;left:1325.31px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11007.84px;left:2055.09px;letter-spacing:55.52px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:2304px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:3211.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:3380.02px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:4144.7px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:4322.59px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:5247.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:5336.2px;white-space:nowrap">3,124,062</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11239.53px;left:6048px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:6336px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:6931.86px;white-space:nowrap">written, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:7492.02px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:7669.91px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11268.32px;left:9368.2px;white-space:nowrap">3,131,852</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:2304px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:3113.3px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:4029.47px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:4251.89px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11720.8px;left:2448px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11720.8px;left:3025.97px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11720.8px;left:3764.33px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:5336.2px;white-space:nowrap">5,136,792</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:6336px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:7145.3px;white-space:nowrap">depreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:8061.47px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:8283.89px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11720.8px;left:6480px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11720.8px;left:7057.97px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11720.8px;left:7796.33px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11528.8px;left:9368.2px;white-space:nowrap">9,515,518</div></div>
		</div>
		<div style="height:22px;left:36px;position:absolute;top:121px;width:503px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">4. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.43px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:938.13px;letter-spacing:-6.97px;white-space:nowrap">Taxes</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:1511.62px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:50px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6428.83px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6987px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7239.48px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8076.36px;letter-spacing:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9107.58px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></div>
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		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">31</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:189px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5369.08px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:320.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:620.24px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:1170.62px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:1721.16px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:2161.49px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:2461.73px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:2962.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:3262.41px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:3749.41px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:3949.54px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:4769.91px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:5550.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:5740.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:6040.55px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:6911.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:7111.14px;white-space:nowrap">Operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:8041.64px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:8411.75px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082.34px;left:8651.87px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:320.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:620.24px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:1170.62px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:1721.16px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:2161.49px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:2461.73px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:2962.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:3262.41px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:3962.9px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:4513.18px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:4863.52px;white-space:nowrap">notional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:5544.05px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:6194.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:6394.57px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:7025.01px;white-space:nowrap">$722,976,563. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:8222.87px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:8583.05px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7642.17px;left:9283.54px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:0px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:350.33px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:1040.63px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:1520.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:1721.07px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:2371.29px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:3201.94px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:3982.24px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7892.17px;left:4352.34px;white-space:nowrap">$1,101,371,510. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:1461.09px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:1891.05px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:2711.43px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:3281.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:3631.99px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:4362.28px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:4672.44px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322.17px;left:4912.56px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:462.06px;left:3508.93px;white-space:nowrap">Asset </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:462.06px;left:3989.16px;white-space:nowrap">Derivatives</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:462.06px;left:7456.55px;white-space:nowrap">Liability </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:462.06px;left:8105.54px;white-space:nowrap">Derivatives</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:722.54px;left:0px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:722.54px;left:809.38px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:0px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:305.08px;white-space:nowrap">Accounted </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:1176.25px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:1433.98px;white-space:nowrap">as</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1106.54px;left:0px;white-space:nowrap">Hedging </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1106.54px;left:684.38px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:722.54px;left:2304px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:722.54px;left:3121.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:2304px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:2873.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:3202.13px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1106.54px;left:2304px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1106.54px;left:5292.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1106.54px;left:5629.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:722.54px;left:6408px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:722.54px;left:7225.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:6408px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:6977.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:914.54px;left:7306.13px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1106.54px;left:6408px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1106.54px;left:9324.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1106.54px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1422.31px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1422.31px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1422.31px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1422.31px;left:1988.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1422.31px;left:2423.75px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1682.79px;left:0px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1682.79px;left:373.65px;letter-spacing:49.62px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1682.79px;left:5247.22px;white-space:nowrap">$8,260,854</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1682.79px;left:9190.23px;white-space:nowrap">$12,647,370</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2183.07px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:42.54px;white-space:nowrap">Purchased</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:706.29px;white-space:nowrap">option </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:1100.27px;white-space:nowrap">contracts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:1669.18px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:1895.27px;white-space:nowrap">included </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:2420.51px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:2559.1px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:3295.74px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:3434.34px;white-space:nowrap">securities, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:4061.52px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:4207.46px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:4557.62px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:4696.21px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:4915.12px;letter-spacing:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:5549.73px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:5688.48px;white-space:nowrap">Assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:6118.79px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2178.85px;left:6374.18px;white-space:nowrap">Liabilities.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3931.76px;left:0px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3931.76px;left:809.38px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:0px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:305.08px;white-space:nowrap">Accounted </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:1176.25px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:1433.98px;white-space:nowrap">as</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:0px;white-space:nowrap">Hedging </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:684.38px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:2592px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:3409.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:2592px;white-space:nowrap">Operations </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:3481.06px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3931.76px;left:5240.59px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3931.76px;left:5542.86px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:5054.19px;white-space:nowrap">Gain </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:5454.27px;white-space:nowrap">(Loss) </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:5978.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:5409.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:5694.11px;white-space:nowrap">Period</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:6480px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:7297.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:6480px;white-space:nowrap">Operations </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:7369.06px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3547.76px;left:9004.38px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3547.76px;left:9306.64px;white-space:nowrap">Change </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3547.76px;left:9937.81px;white-space:nowrap">in</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3739.76px;left:9270.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3931.76px;left:9102.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4123.76px;left:9004.3px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:9039.92px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:9297.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4315.76px;left:9582.11px;white-space:nowrap">Period</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4638.8px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4638.8px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4638.8px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4638.8px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:2592px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:2885.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:3490.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:3837.16px;white-space:nowrap">(loss) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:4272.7px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:6480px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:6773.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:7342.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4867.29px;left:7511.8px;white-space:nowrap">unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.29px;left:6480px;white-space:nowrap">&#160;&#160;appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.29px;left:7485.08px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.29px;left:8507.81px;white-space:nowrap">on:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:0px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:586.95px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:1325.31px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:2055.09px;letter-spacing:53.14px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5725.71px;left:2592px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5725.71px;left:5232.78px;white-space:nowrap">$(6,651,391)</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5728.92px;left:6140.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5725.71px;left:6480px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5725.71px;left:9227.34px;white-space:nowrap">$2,027,589</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5728.92px;left:10028.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5986.2px;left:2592px;letter-spacing:-0.36px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5986.2px;left:3140.28px;white-space:nowrap">options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5986.2px;left:5613.64px;white-space:nowrap">273,464</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5986.2px;left:6480px;letter-spacing:-0.36px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5986.2px;left:7028.28px;white-space:nowrap">options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5986.2px;left:9368.2px;white-space:nowrap">1,323,835</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6246.68px;left:2592px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6246.68px;left:3223.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6246.68px;left:3961.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6246.68px;left:5284.66px;white-space:nowrap">(18,708,427)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6246.68px;left:6480px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6246.68px;left:7111.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6246.68px;left:7849.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6246.68px;left:9279.22px;white-space:nowrap">13,571,272</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6507.17px;left:0px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6507.17px;left:373.65px;letter-spacing:49.87px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6507.17px;left:5195.67px;white-space:nowrap">$(25,086,354)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6507.17px;left:9190.23px;white-space:nowrap">$16,922,696</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:7078.91px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:42.54px;white-space:nowrap">Purchased</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:706.29px;white-space:nowrap">option </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:1100.27px;white-space:nowrap">contracts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:1669.18px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:1895.27px;white-space:nowrap">included </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:2420.51px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:2559.1px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:2778.01px;white-space:nowrap">realized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:3273.95px;white-space:nowrap">gain </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:3558.48px;white-space:nowrap">(loss) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:3915.67px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:4214.57px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:4951.21px;letter-spacing:0px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:5206.6px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:5425.51px;white-space:nowrap">change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:5892.46px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:6031.06px;white-space:nowrap">unrealized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:6672.93px;white-space:nowrap">appreciation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:7424.26px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:8262.93px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:8445.35px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:9181.99px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7074.69px;left:9320.59px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7266.69px;left:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7266.69px;left:634.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7266.69px;left:780.55px;white-space:nowrap">Operations.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8787.59px;left:6865.16px;white-space:nowrap">Gross </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8787.59px;left:7366.09px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8787.59px;left:8103.83px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8979.59px;left:6332.89px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8979.59px;left:6902.11px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8979.59px;left:7231.02px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8979.59px;left:8013.44px;white-space:nowrap">Presented</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9171.59px;left:6002.66px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9171.59px;left:6189.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9171.59px;left:6473.75px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9171.59px;left:7291.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9171.59px;left:7481.25px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9171.59px;left:8050.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9171.59px;left:8379.38px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9475.76px;left:6011.68px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:9478.97px;left:6536.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9475.76px;left:8425.08px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:9478.97px;left:9163.05px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9867.2px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9867.2px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9867.2px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9867.2px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10171.37px;left:0px;white-space:nowrap">Derivatives</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10402.85px;left:144px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10402.85px;left:775.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10402.85px;left:1513.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10402.85px;left:2241.91px;letter-spacing:50.34px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10402.85px;left:6759.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10402.85px;left:6848.2px;white-space:nowrap">5,136,792</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10402.85px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10402.85px;left:9368.2px;white-space:nowrap">9,515,518</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10605.34px;left:144px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10605.34px;left:739.86px;white-space:nowrap">purchased</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10605.34px;left:1494.61px;letter-spacing:50.04px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10605.34px;left:6848.2px;white-space:nowrap">3,124,062</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10605.34px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.82px;left:144px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.82px;left:739.86px;white-space:nowrap">written</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.82px;left:1214.37px;letter-spacing:49.96px;white-space:nowrap">........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.82px;left:7400px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.82px;left:9368.2px;white-space:nowrap">3,131,852</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11039.31px;left:288px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11039.31px;left:747.3px;letter-spacing:49.85px;white-space:nowrap">.............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11039.31px;left:6759.22px;white-space:nowrap">$8,260,854</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11039.31px;left:9190.23px;white-space:nowrap">$12,647,370</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:11539.59px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:42.54px;white-space:nowrap">Absent</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:487.54px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:669.96px;white-space:nowrap">event </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:1027.46px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:1173.4px;white-space:nowrap">default </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:1603.87px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:1756.99px;white-space:nowrap">early </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:2077.85px;white-space:nowrap">termination, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:2799.88px;white-space:nowrap">OTC </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:3113.32px;white-space:nowrap">derivative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:3711.37px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:4127.15px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:4382.54px;white-space:nowrap">liabilities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:4914.88px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:5140.98px;white-space:nowrap">presented </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:5761.06px;white-space:nowrap">gross </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:6118.4px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:6373.79px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:6592.7px;letter-spacing:-0.32px;white-space:nowrap">offset </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:6947.93px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:7086.52px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:7305.43px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:7940.04px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:8078.79px;white-space:nowrap">Assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:8509.1px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11535.37px;left:8764.49px;white-space:nowrap">Liabilities.</div></div>
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			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-2.67px;white-space:nowrap">9. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.33px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:775.33px;letter-spacing:-3.64px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1743.05px;letter-spacing:-4px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2840.2px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:558.17px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:810.66px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1647.53px;letter-spacing:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2678.75px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">32</div></div>
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			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12118px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">












































































































































			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:1461.09px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:1891.05px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:2711.43px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:3331.67px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:3841.88px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:4231.93px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:4482.16px;letter-spacing:-0.46px;white-space:nowrap">offset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:4969.16px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:5599.6px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:6029.56px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:6849.93px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:7580.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:7930.55px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:8700.91px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:608px;left:9431.28px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:858px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:858px;left:300.23px;letter-spacing:-0.95px;white-space:nowrap">counterparty, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:858px;left:1387.44px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:858px;left:1697.61px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:858px;left:1937.72px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:220.08px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:660.41px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:960.64px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:1461.09px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:1891.05px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:2711.43px;white-space:nowrap">liabilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:3491.72px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:4001.92px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:4391.98px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:4642.21px;letter-spacing:-0.46px;white-space:nowrap">offset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:5129.21px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:5759.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:6059.88px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:6644.53px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:7074.49px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:7894.86px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:8465.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6307.52px;left:8815.43px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6557.52px;left:0px;white-space:nowrap">pledged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6557.52px;left:690.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6557.52px;left:890.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6557.52px;left:1191.01px;letter-spacing:-0.95px;white-space:nowrap">counterparty, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6557.52px;left:2278.21px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6557.52px;left:2588.38px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6557.52px;left:2828.5px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1323.42px;left:5704.95px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1323.42px;left:6442.68px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1323.42px;left:6753.7px;white-space:nowrap">Offset </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1323.42px;left:7260.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1323.42px;left:7447.05px;white-space:nowrap">the</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1515.42px;left:5374.2px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1515.42px;left:6192.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1515.42px;left:6381.7px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1515.42px;left:6950.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1515.42px;left:7279.83px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1775.91px;left:3857.58px;white-space:nowrap">Gross</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1967.91px;left:3431.25px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1967.91px;left:4168.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2159.91px;left:2790.47px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2159.91px;left:3359.69px;white-space:nowrap">Presented </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2159.91px;left:4177.81px;white-space:nowrap">in</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:3066.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:3351.02px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:4168.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2543.91px;left:2683.91px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2543.91px;left:3253.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2543.91px;left:3582.03px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1967.91px;left:5066.48px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2159.91px;left:4844.3px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:4805.63px;letter-spacing:-0.59px;white-space:nowrap">Available </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:5546.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2543.91px;left:5297.73px;white-space:nowrap">Offset</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1967.91px;left:6506.48px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2159.91px;left:6284.3px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:6470.86px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2543.91px;left:6362.57px;white-space:nowrap">Received</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2547.12px;left:7065.23px;white-space:nowrap">a,b</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2159.91px;left:8248.75px;white-space:nowrap">Cash</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:7910.86px;white-space:nowrap">Collateral</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2543.91px;left:7937.34px;white-space:nowrap">Received</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2159.91px;left:9179.38px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2159.91px;left:9475.7px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:9404.3px;white-space:nowrap">(Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2351.91px;left:9768.59px;white-space:nowrap">less</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2543.91px;left:9315.55px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2543.91px;left:9697.73px;white-space:nowrap">zero)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2885.85px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2885.85px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2885.85px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2885.85px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3146.33px;left:0px;white-space:nowrap">Counterparty</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.81px;left:144px;letter-spacing:-4.41px;white-space:nowrap">BOFA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.81px;left:561.97px;letter-spacing:51.07px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.81px;left:4071.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.81px;left:5511.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.81px;left:6951.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.81px;left:8391.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.81px;left:9831.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.3px;left:144px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.3px;left:467.07px;letter-spacing:50.97px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.3px;left:3608.2px;white-space:nowrap">3,517,908</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.3px;left:4941.64px;white-space:nowrap">(3,517,908)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.3px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.3px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.3px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.78px;left:144px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.78px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.78px;left:3741.64px;white-space:nowrap">353,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.78px;left:5075.08px;white-space:nowrap">(245,886)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.78px;left:6515.08px;white-space:nowrap">(107,364)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.78px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.78px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4188.27px;left:144px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4188.27px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4188.27px;left:3830.63px;white-space:nowrap">14,758</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4188.27px;left:5164.06px;white-space:nowrap">(14,758)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4188.27px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4188.27px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4188.27px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.75px;left:144px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.75px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.75px;left:3608.2px;white-space:nowrap">1,562,592</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.75px;left:5075.08px;white-space:nowrap">(581,171)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.75px;left:6515.08px;white-space:nowrap">(896,462)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.75px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.75px;left:9590.63px;white-space:nowrap">84,959</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4709.24px;left:144px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4709.24px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4709.24px;left:3753.52px;letter-spacing:-1.7px;white-space:nowrap">911,268</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4709.24px;left:5086.95px;letter-spacing:-1.32px;white-space:nowrap">(911,268)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4709.24px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4709.24px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4709.24px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4969.72px;left:144px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4969.72px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4969.72px;left:3608.2px;white-space:nowrap">1,857,815</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4969.72px;left:4941.64px;white-space:nowrap">(1,857,815)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4969.72px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4969.72px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4969.72px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5230.21px;left:144px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5230.21px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5230.21px;left:3830.63px;white-space:nowrap">34,713</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5230.21px;left:5164.06px;white-space:nowrap">(34,713)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5230.21px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5230.21px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5230.21px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5490.69px;left:144px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5490.69px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5490.69px;left:3919.61px;white-space:nowrap">8,550</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5490.69px;left:5600px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5490.69px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5490.69px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5490.69px;left:9679.61px;white-space:nowrap">8,550</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.17px;left:288px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.17px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.17px;left:3519.22px;white-space:nowrap">$8,260,854</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.17px;left:4852.66px;white-space:nowrap">$(7,163,519)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.17px;left:6292.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.17px;left:6381.64px;white-space:nowrap">(1,003,826)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.17px;left:8391.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.17px;left:9501.64px;white-space:nowrap">$93,509</div><div style="font-family:Arial, sans-serif;font-size:10px;position:absolute;top:6029.46px;left:7338.44px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:10px;position:absolute;top:6029.46px;left:8562.44px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7022.94px;left:5704.95px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7022.94px;left:6442.68px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7022.94px;left:6753.7px;white-space:nowrap">Offset </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7022.94px;left:7260.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7022.94px;left:7447.05px;white-space:nowrap">the</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7214.94px;left:5374.2px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7214.94px;left:6192.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7214.94px;left:6381.7px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7214.94px;left:6950.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7214.94px;left:7279.83px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7475.42px;left:3857.58px;white-space:nowrap">Gross</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7667.42px;left:3431.25px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7667.42px;left:4168.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7859.42px;left:3582.03px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8051.42px;left:3359.69px;white-space:nowrap">Presented </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8051.42px;left:4177.81px;white-space:nowrap">in</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:3066.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:3351.02px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:4168.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.42px;left:2683.91px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.42px;left:3253.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.42px;left:3582.03px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7859.42px;left:5066.48px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8051.42px;left:4844.3px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:4805.63px;letter-spacing:-0.59px;white-space:nowrap">Available </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:5546.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.42px;left:5297.73px;white-space:nowrap">Offset</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7859.42px;left:6506.48px;white-space:nowrap">Financial</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8051.42px;left:6284.3px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:6470.86px;white-space:nowrap">Collateral</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.42px;left:6577.66px;white-space:nowrap">Pledged</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8051.42px;left:8248.75px;white-space:nowrap">Cash</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:7910.86px;white-space:nowrap">Collateral</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.42px;left:7960.68px;white-space:nowrap">Pledged</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:8438.63px;left:8583.02px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8051.42px;left:9179.38px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8051.42px;left:9475.7px;white-space:nowrap">Amount </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:9404.3px;white-space:nowrap">(Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8243.42px;left:9768.59px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.42px;left:9315.55px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8435.42px;left:9697.73px;white-space:nowrap">zero)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8777.36px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8777.36px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8777.36px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8777.36px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9037.85px;left:0px;white-space:nowrap">Counterparty</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9298.33px;left:144px;letter-spacing:-4.41px;white-space:nowrap">BOFA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9298.33px;left:561.97px;letter-spacing:51.07px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9298.33px;left:3652.66px;white-space:nowrap">$375,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9298.33px;left:5511.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9298.33px;left:6951.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9298.33px;left:7866.09px;white-space:nowrap">$(375,900)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9298.33px;left:9831.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.82px;left:144px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.82px;left:467.07px;letter-spacing:50.97px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.82px;left:3608.2px;white-space:nowrap">6,210,947</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.82px;left:4941.64px;white-space:nowrap">(3,517,908)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.82px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.82px;left:7821.64px;white-space:nowrap">(2,693,039)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.82px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9819.3px;left:144px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9819.3px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9819.3px;left:3741.64px;white-space:nowrap">245,886</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9819.3px;left:5075.08px;white-space:nowrap">(245,886)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9819.3px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9819.3px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9819.3px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10079.79px;left:144px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10079.79px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10079.79px;left:3741.64px;white-space:nowrap">572,020</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10079.79px;left:5164.06px;white-space:nowrap">(14,758)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10079.79px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10079.79px;left:7955.08px;white-space:nowrap">(300,000)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10079.79px;left:9501.64px;white-space:nowrap">257,262</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10340.27px;left:144px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10340.27px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10340.27px;left:3741.64px;white-space:nowrap">581,171</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10340.27px;left:5075.08px;white-space:nowrap">(581,171)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10340.27px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10340.27px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10340.27px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10600.75px;left:144px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10600.75px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10600.75px;left:3608.2px;white-space:nowrap">2,088,007</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10600.75px;left:5086.95px;letter-spacing:-1.32px;white-space:nowrap">(911,268)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10600.75px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10600.75px;left:7955.08px;white-space:nowrap">(925,375)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10600.75px;left:9501.64px;white-space:nowrap">251,364</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10861.24px;left:144px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10861.24px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10861.24px;left:3608.2px;white-space:nowrap">2,503,409</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10861.24px;left:4941.64px;white-space:nowrap">(1,857,815)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10861.24px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10861.24px;left:7955.08px;white-space:nowrap">(645,594)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10861.24px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11121.72px;left:144px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11121.72px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11121.72px;left:3830.63px;white-space:nowrap">70,030</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11121.72px;left:5164.06px;white-space:nowrap">(34,713)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11121.72px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11121.72px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11121.72px;left:9590.63px;white-space:nowrap">35,317</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11382.21px;left:144px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11382.21px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11382.21px;left:4160px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11382.21px;left:5600px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11382.21px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11382.21px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11382.21px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11642.69px;left:288px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11642.69px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11642.69px;left:3430.23px;white-space:nowrap">$12,647,370</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11642.69px;left:4852.66px;white-space:nowrap">$(7,163,519)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11642.69px;left:6951.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11642.69px;left:7732.66px;white-space:nowrap">$(4,939,908)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11642.69px;left:9412.66px;white-space:nowrap">$543,943</div></div>
		</div>
		<div style="height:21px;left:36px;position:absolute;top:121px;width:503px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-2.67px;white-space:nowrap">9. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.33px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:775.33px;letter-spacing:-3.64px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1743.05px;letter-spacing:-4px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2840.2px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:50px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6428.83px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6987px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7239.48px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8076.36px;letter-spacing:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9107.58px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></div>
		</div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1143.44px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1143.44px;left:370.28px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1143.44px;left:800.51px;white-space:nowrap">1(c) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1143.44px;left:1160.51px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1143.44px;left:1971.04px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1143.44px;left:2791.41px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1143.44px;left:3501.83px;white-space:nowrap">instruments.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1573.44px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1573.44px;left:360.35px;white-space:nowrap">Abbreviations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1573.44px;left:1501px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1573.44px;left:1751.22px;white-space:nowrap">page </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1573.44px;left:2201.66px;white-space:nowrap">36</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1573.44px;left:2401.88px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2156.51px;left:0px;letter-spacing:-3px;white-space:nowrap">10. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2156.51px;left:317.59px;letter-spacing:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2156.51px;left:719.96px;letter-spacing:-5.17px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2156.51px;left:1274.08px;letter-spacing:-3.38px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:820.46px;white-space:nowrap">follows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:1420.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:1570.78px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:1870.84px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:2351.16px;white-space:nowrap">hierarchy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:3141.47px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:3491.72px;white-space:nowrap">distinguishes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:4582.35px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:5312.9px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:5913.02px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:6313.36px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:7054.01px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:7464.02px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2524.24px;left:8505px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:0px;white-space:nowrap">(observable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:990.53px;white-space:nowrap">inputs) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:1580.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:1931.13px;white-space:nowrap">the&#160;Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:2816.02px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:3196.23px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:3796.35px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:4856.84px;white-space:nowrap">(unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:6047.58px;white-space:nowrap">inputs). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:6684.61px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:7234.89px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:7765.22px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:8075.39px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:8515.72px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:8705.83px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2774.24px;left:9696.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:480.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:680.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:980.68px;text-rendering:optimizeLegibility;white-space:nowrap">Fund&#39;s&#160;financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:2275.75px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:3256.08px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:3606.42px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:3916.58px;white-space:nowrap">summarized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:4946.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:5136.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:5437.18px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:6187.59px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:6487.65px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3024.24px;left:6967.97px;white-space:nowrap">hierarchy:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:0px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:480.32px;white-space:nowrap">1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:630.44px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:780.56px;white-space:nowrap">quoted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:1381.11px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:1911.27px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:2101.38px;white-space:nowrap">active </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:2621.6px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:3311.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:3571.79px;white-space:nowrap">identical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:4282.21px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3454.24px;left:4992.63px;white-space:nowrap">instruments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:0px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:480.32px;white-space:nowrap">2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:630.44px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:780.56px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:1240.84px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:2091.27px;white-space:nowrap">observable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:3021.86px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:3552.19px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:4372.65px;white-space:nowrap">quoted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:4973.2px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:5503.36px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:5763.43px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:6333.4px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:7043.82px;white-space:nowrap">instruments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:8074.16px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3884.24px;left:8714.44px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4134.24px;left:0px;white-space:nowrap">prepayment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4134.24px;left:1000.55px;white-space:nowrap">speed, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4134.24px;left:1591px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4134.24px;left:2081.16px;white-space:nowrap">risk, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4134.24px;left:2461.11px;white-space:nowrap">etc.)</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:0px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:480.32px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:630.44px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:780.56px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:1630.99px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:2761.79px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:3292.12px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:4112.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:4412.81px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:4997.46px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:5377.68px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:6438.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:6628.27px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:7618.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:7919.03px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:8219.09px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:8699.41px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4564.24px;left:8899.54px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4814.24px;left:0px;white-space:nowrap">instruments)</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:360.18px;white-space:nowrap">input </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:800.51px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:1310.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:1620.88px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:1921.11px;white-space:nowrap">necessarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:2871.47px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:3121.7px;white-space:nowrap">indication </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:3932.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:4132.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:4432.59px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:4762.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:4972.59px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:5622.89px;white-space:nowrap">associated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:6533.44px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:6903.54px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:7613.96px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:8594.3px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:8794.42px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5244.24px;left:9144.67px;white-space:nowrap">level. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:160.14px;white-space:nowrap">summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:950.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:1150.31px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:1680.64px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:2120.98px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:2361.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:2561.22px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:3001.55px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:3301.79px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:3802.24px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:3992.34px;white-space:nowrap">valuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:4612.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:4913px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:5497.65px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:6067.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:6418.21px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:7148.5px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:7748.7px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:7948.83px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:8248.89px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:8779.22px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:8959.22px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5674.24px;left:9199.34px;white-space:nowrap">follows: </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:388.17px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:42.54px;white-space:nowrap">In</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:181.29px;white-space:nowrap">At </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:341.76px;white-space:nowrap">June </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:662.77px;white-space:nowrap">30, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:881.68px;white-space:nowrap">2021, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:1246.52px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:1465.43px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:1800.98px;white-space:nowrap">received </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2333.4px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2622.77px;letter-spacing:-0.53px;white-space:nowrap">Treasury </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3172.15px;white-space:nowrap">Bonds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3580.67px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3836.06px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:4215.27px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:4470.67px;white-space:nowrap">U.K </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:4723.56px;letter-spacing:-0.53px;white-space:nowrap">Treasury </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:5272.93px;text-rendering:optimizeLegibility;white-space:nowrap">Inflation-Linked </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6199.34px;white-space:nowrap">Gilt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6432.7px;white-space:nowrap">Bonds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6841.21px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:7016.29px;white-space:nowrap">collateral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:7577.85px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:7767.46px;white-space:nowrap">derivatives.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:580.17px;left:0px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:42.54px;white-space:nowrap">In</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:188.48px;white-space:nowrap">some </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:545.82px;white-space:nowrap">instances, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:1173.17px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:1392.07px;white-space:nowrap">collateral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:1953.63px;white-space:nowrap">amounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:2493.4px;white-space:nowrap">disclosed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:3076.92px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:3215.51px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:3434.42px;white-space:nowrap">table </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:3755.43px;white-space:nowrap">above </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:4149.42px;white-space:nowrap">were </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:4470.2px;white-space:nowrap">adjusted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5002.77px;letter-spacing:0px;white-space:nowrap">due </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5258.17px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5404.1px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5623.01px;white-space:nowrap">requirement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6359.57px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6505.51px;white-space:nowrap">limit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6775.2px;white-space:nowrap">collateral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:7336.76px;white-space:nowrap">amounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:7876.52px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:8022.46px;white-space:nowrap">avoid </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:8372.62px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:8591.52px;letter-spacing:-0.32px;white-space:nowrap">effect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:8946.76px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:9092.7px;white-space:nowrap">over </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:0px;white-space:nowrap">collateralization. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:970.16px;white-space:nowrap">Actual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:1371.33px;white-space:nowrap">collateral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:1932.89px;white-space:nowrap">received </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:2465.31px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:2873.83px;white-space:nowrap">pledged </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:3377.27px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:3661.64px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:3844.06px;white-space:nowrap">more </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:4179.45px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:4471.33px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:4690.23px;white-space:nowrap">amounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:5230px;white-space:nowrap">disclosed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:767.95px;left:5813.52px;white-space:nowrap">herein.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6151.34px;left:4785.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6151.34px;left:5239.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6151.34px;left:6369.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6151.34px;left:6823.02px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6151.34px;left:7953.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6151.34px;left:8407.02px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6151.34px;left:9709.69px;letter-spacing:-2.37px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6510.79px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6510.79px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6510.79px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6510.79px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6750.95px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.12px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.12px;left:1051.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.12px;left:1220.02px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7187.6px;left:288px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7187.6px;left:874.95px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7187.6px;left:1799.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7187.6px;left:2102.38px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7187.6px;left:2680.5px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7187.6px;left:3383px;white-space:nowrap">:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:1214.37px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:5079.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:6663.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:7606.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:7695.22px;white-space:nowrap">14,532,732</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:9190.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7384.09px;left:9279.22px;white-space:nowrap">14,532,732</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7580.57px;left:432px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7580.57px;left:934.13px;letter-spacing:49.25px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7580.57px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7580.57px;left:6111.22px;white-space:nowrap">41,972,955</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7580.57px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7580.57px;left:9279.22px;white-space:nowrap">41,972,955</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7777.06px;left:432px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7777.06px;left:934.13px;letter-spacing:49.25px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7777.06px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7777.06px;left:6111.22px;white-space:nowrap">35,474,361</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7777.06px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7777.06px;left:9279.22px;white-space:nowrap">35,474,361</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7973.54px;left:432px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7973.54px;left:1214.37px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7973.54px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7973.54px;left:6111.22px;white-space:nowrap">32,362,268</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7973.54px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7973.54px;left:9279.22px;white-space:nowrap">32,362,268</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.03px;left:432px;white-space:nowrap">Ecuador </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.03px;left:1120.96px;letter-spacing:49.27px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.03px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.03px;left:6111.22px;white-space:nowrap">24,715,688</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.03px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.03px;left:9279.22px;white-space:nowrap">24,715,688</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8366.51px;left:432px;white-space:nowrap">Ghana </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8366.51px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8366.51px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8366.51px;left:6111.22px;white-space:nowrap">30,134,498</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8366.51px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8366.51px;left:9279.22px;white-space:nowrap">30,134,498</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8563px;left:432px;white-space:nowrap">India </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8563px;left:840.72px;letter-spacing:49.24px;white-space:nowrap">................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8563px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8563px;left:6111.22px;white-space:nowrap">34,670,987</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8563px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8563px;left:9279.22px;white-space:nowrap">34,670,987</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8759.48px;left:432px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8759.48px;left:1214.37px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8759.48px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8759.48px;left:6111.22px;white-space:nowrap">93,565,310</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8759.48px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8759.48px;left:9279.22px;white-space:nowrap">93,565,310</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8955.96px;left:432px;white-space:nowrap">Mexico </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8955.96px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8955.96px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8955.96px;left:6111.22px;white-space:nowrap">29,184,292</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8955.96px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8955.96px;left:9279.22px;white-space:nowrap">29,184,292</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9152.45px;left:432px;white-space:nowrap">Norway </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9152.45px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9152.45px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9152.45px;left:6111.22px;white-space:nowrap">28,191,650</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9152.45px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9152.45px;left:9279.22px;white-space:nowrap">28,191,650</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9348.93px;left:432px;white-space:nowrap">Oman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9348.93px;left:934.13px;letter-spacing:49.25px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9348.93px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9348.93px;left:6111.22px;white-space:nowrap">28,384,492</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9348.93px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9348.93px;left:9279.22px;white-space:nowrap">28,384,492</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9545.42px;left:432px;white-space:nowrap">Russia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9545.42px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9545.42px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9545.42px;left:6111.22px;white-space:nowrap">37,137,653</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9545.42px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9545.42px;left:9279.22px;white-space:nowrap">37,137,653</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9741.9px;left:432px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9741.9px;left:894.58px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9741.9px;left:1401.2px;letter-spacing:49.31px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9741.9px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9741.9px;left:6022.23px;white-space:nowrap">130,712,786</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9741.9px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9741.9px;left:9190.23px;white-space:nowrap">130,712,786</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9938.39px;left:432px;white-space:nowrap">Sri </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9938.39px;left:672px;white-space:nowrap">Lanka </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9938.39px;left:1214.37px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9938.39px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9938.39px;left:6200.2px;white-space:nowrap">3,080,740</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9938.39px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9938.39px;left:9368.2px;white-space:nowrap">3,080,740</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10134.87px;left:432px;white-space:nowrap">Supranational </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10134.87px;left:1494.61px;letter-spacing:49.32px;white-space:nowrap">.........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10134.87px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10134.87px;left:6200.2px;white-space:nowrap">9,523,144</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10134.87px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10134.87px;left:9368.2px;white-space:nowrap">9,523,144</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10331.35px;left:432px;letter-spacing:-0.85px;white-space:nowrap">Turkey </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10331.35px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10331.35px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10331.35px;left:6111.22px;white-space:nowrap">12,483,660</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10331.35px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10331.35px;left:9279.22px;white-space:nowrap">12,483,660</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10527.84px;left:288px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10527.84px;left:883.86px;white-space:nowrap">purchased</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10527.84px;left:1681.44px;letter-spacing:49.36px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10527.84px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10527.84px;left:6200.2px;white-space:nowrap">3,124,062</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10527.84px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10527.84px;left:9368.2px;white-space:nowrap">3,124,062</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10724.32px;left:288px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10724.32px;left:711.98px;letter-spacing:-3.55px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10724.32px;left:1111.98px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10724.32px;left:2055.09px;letter-spacing:49.44px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10724.32px;left:4527.22px;white-space:nowrap">33,414,069</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10724.32px;left:6022.23px;white-space:nowrap">140,144,460</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10724.32px;left:7784.2px;white-space:nowrap">1,681,707</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10724.32px;left:9190.23px;white-space:nowrap">175,240,236</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:958.42px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:1865.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:2034.44px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:2802.39px;letter-spacing:49.79px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:4438.23px;white-space:nowrap">$33,414,069</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:5933.25px;white-space:nowrap">$714,863,006</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:7606.23px;white-space:nowrap">$16,214,439</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10920.81px;left:9101.25px;white-space:nowrap">$764,491,514</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11242.43px;left:144px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11242.43px;left:588.61px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11242.43px;left:1273.38px;white-space:nowrap">Instruments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:288px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:919.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:1657.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:2428.74px;letter-spacing:49.57px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:5079.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:6111.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:6200.2px;white-space:nowrap">5,136,793</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:8247.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11438.91px;left:9368.2px;white-space:nowrap">5,136,793</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11635.4px;left:288px;white-space:nowrap">Restricted </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11635.4px;left:1052.69px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11635.4px;left:1746.2px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11635.4px;left:2241.91px;letter-spacing:49.5px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11635.4px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11635.4px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11635.4px;left:8229.05px;white-space:nowrap">763</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11635.4px;left:9813.05px;white-space:nowrap">763</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:958.42px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:1403.03px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:2087.8px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:2989.22px;letter-spacing:49.97px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:6111.22px;white-space:nowrap">$5,136,793</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:8140.06px;white-space:nowrap">$763</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11831.88px;left:9279.22px;white-space:nowrap">$5,137,556</div></div>
		</div>
		<div style="height:22px;left:54px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-2.67px;white-space:nowrap">9. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.33px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:775.33px;letter-spacing:-3.64px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1743.05px;letter-spacing:-4px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2840.2px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:558.17px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:810.66px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1647.53px;letter-spacing:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2678.75px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">34</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:80px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:160.14px;white-space:nowrap">reconciliation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:1260.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:1450.81px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:1961.02px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:2441.34px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:2591.46px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:3121.79px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:3431.95px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:3872.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:4062.39px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:5052.92px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:5352.98px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:5833.3px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:6013.3px;white-space:nowrap">presented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:6863.91px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:7344.23px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:7804.51px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:8114.68px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:8965.11px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.73px;left:9445.43px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:0px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:570.23px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:1130.63px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:1860.91px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:2061.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:2361.27px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:3192.01px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:3752.4px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:4102.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:4302.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:4603.1px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:5193.54px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:5413.62px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:5853.96px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:6154.19px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:6654.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:6954.87px;white-space:nowrap">reconciliation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:8055.44px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:8235.44px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.73px;left:8475.56px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:880.49px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:2011.29px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:2781.83px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:3312.16px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:3572.23px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:4262.43px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:4742.75px;white-space:nowrap">3&#160;assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:5463.11px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:6023.5px;white-space:nowrap">liabilities&#160;and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:7104.11px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:7684.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:7884.4px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:8184.46px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:8664.79px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:8904.9px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:9055.02px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10353.47px;left:9545.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:0px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:730.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:920.65px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:2051.46px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:2821.99px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:3352.32px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:3592.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:3792.57px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:4232.9px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:4533.13px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:5033.58px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:5343.75px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10603.47px;left:5583.87px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:430.06px;left:4785.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:430.06px;left:5239.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:430.06px;left:6369.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:430.06px;left:6823.02px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:430.06px;left:7953.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:430.06px;left:8407.02px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:430.06px;left:9709.69px;letter-spacing:-2.37px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:789.5px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:789.5px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:789.5px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:789.5px;left:1988.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:789.5px;left:2423.75px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1029.67px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1269.84px;left:144px;white-space:nowrap">Receivables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1466.32px;left:288px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1466.32px;left:866.05px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1466.32px;left:1307.78px;letter-spacing:49.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1466.32px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1466.32px;left:6663.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1466.32px;left:7828.66px;white-space:nowrap">$286,977</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1466.32px;left:9412.66px;white-space:nowrap">$286,977</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1787.94px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2028.11px;left:144px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2028.11px;left:588.61px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2028.11px;left:1273.38px;white-space:nowrap">Instruments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:288px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:883.86px;white-space:nowrap">written</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:1401.2px;letter-spacing:49.31px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:5079.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:6111.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:6200.2px;white-space:nowrap">3,131,852</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:8247.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2224.59px;left:9368.2px;white-space:nowrap">3,131,852</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2421.08px;left:288px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2421.08px;left:919.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2421.08px;left:1657.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2421.08px;left:2335.33px;letter-spacing:49.53px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2421.08px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2421.08px;left:6200.2px;white-space:nowrap">9,515,519</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2421.08px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2421.08px;left:9368.2px;white-space:nowrap">9,515,519</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:958.42px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:1403.03px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:2087.8px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:2989.22px;letter-spacing:49.97px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:6022.23px;white-space:nowrap">$12,647,371</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:8247.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2617.56px;left:9190.23px;white-space:nowrap">$12,647,371</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2939.18px;left:144px;white-space:nowrap">Payables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3135.67px;left:288px;white-space:nowrap">Deferred </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3135.67px;left:952.06px;letter-spacing:-2.22px;white-space:nowrap">Tax(ARS)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3135.67px;left:1681.44px;letter-spacing:49.36px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3135.67px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3135.67px;left:6663.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3135.67px;left:8140.06px;white-space:nowrap">$660</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3135.67px;left:9724.06px;white-space:nowrap">$660</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:1960.69px;white-space:nowrap">Balance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:2466.65px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:1824.39px;white-space:nowrap">Beginning </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:2459.91px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:2193.24px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:2705.93px;white-space:nowrap">Purchases</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:87.4px;font-weight:bold;position:absolute;top:5501.03px;left:3328.12px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:3822.73px;white-space:nowrap">Sales</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:87.4px;font-weight:bold;position:absolute;top:5501.03px;left:4144.19px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:4522.62px;letter-spacing:-0.84px;white-space:nowrap">Transfer</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:4782.56px;white-space:nowrap">Into</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:4590.81px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:4939.59px;white-space:nowrap">3</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:5342.62px;letter-spacing:-0.84px;white-space:nowrap">Transfer</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:5465.89px;white-space:nowrap">Out </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:5711.91px;white-space:nowrap">of</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:5410.81px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:5759.59px;white-space:nowrap">3</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4957.07px;left:6421.88px;white-space:nowrap">Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:6073.1px;white-space:nowrap">accretion</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:6032.3px;white-space:nowrap">(</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:6073.25px;white-space:nowrap">amortiza-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:6353.62px;white-space:nowrap">tion</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:6579.06px;white-space:nowrap">)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4957.07px;left:7241.88px;white-space:nowrap">Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:6940.93px;white-space:nowrap">Realized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:7166.51px;white-space:nowrap">Gain</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:7071.01px;white-space:nowrap">(Loss)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4957.07px;left:8076.88px;white-space:nowrap">Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:7652.95px;white-space:nowrap">Unr</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:7864.7px;white-space:nowrap">ealized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:7523.24px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:7448.1px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:8623.25px;white-space:nowrap">Balance</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:8719.12px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:8862.68px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:8561.94px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:8712.24px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4417.07px;left:9247.1px;white-space:nowrap">Net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4417.07px;left:9479.42px;white-space:nowrap">Change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4417.07px;left:9964.65px;white-space:nowrap">in</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4597.07px;left:9451.95px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4777.07px;left:9322.24px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:4957.07px;left:9247.1px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:9490.63px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5137.07px;left:9670.66px;white-space:nowrap">Assets</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:9663.92px;white-space:nowrap">Held </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5317.07px;left:9964.65px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:9424.71px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:5497.07px;left:9841.68px;white-space:nowrap">End</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:1751.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:2571.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:3363.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:4183.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:5003.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:5823.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:6615.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:7435.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:8270.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:9090.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5737px;left:10069.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5806.64px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5806.64px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5806.64px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5806.64px;left:1988.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:6002.04px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6191.24px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6191.24px;left:841.49px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6191.24px;left:971.42px;white-space:nowrap">Securities:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6380.45px;left:288px;white-space:nowrap">Foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6380.45px;left:739.25px;white-space:nowrap">Government </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6380.45px;left:1450.35px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6560.45px;left:432px;white-space:nowrap">Agency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6560.45px;left:876.51px;white-space:nowrap">Securities</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6560.45px;left:1416.59px;white-space:nowrap">:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:432px;white-space:nowrap">Argentina</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:999.05px;letter-spacing:54.28px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:1891.92px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:1960.33px;white-space:nowrap">13,615,735</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:2752.33px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:2820.73px;white-space:nowrap">3,251,306</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:3593.05px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:3661.46px;white-space:nowrap">(881,934)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:4816.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:4885.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:5636.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:5705.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:6106.94px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:6175.35px;white-space:nowrap">586,789</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:6845.05px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:6913.46px;white-space:nowrap">(218,125)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:7577.44px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:7645.85px;white-space:nowrap">(1,821,039)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:8410.92px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:8479.33px;white-space:nowrap">14,532,732</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:9376.44px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6749.65px;left:9444.85px;white-space:nowrap">(1,538,831)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:288px;white-space:nowrap">Short </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:614.07px;letter-spacing:-2.72px;white-space:nowrap">Term </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:921.62px;white-space:nowrap">Investments</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:2131.35px;white-space:nowrap">868,631</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:2820.73px;white-space:nowrap">1,731,906</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:3661.46px;white-space:nowrap">(659,976)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:4885.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:5705.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:6312.16px;white-space:nowrap">9,582</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:6981.87px;white-space:nowrap">(59,378)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:7748.46px;white-space:nowrap">(209,058)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:8547.73px;white-space:nowrap">1,681,707</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:6938.85px;left:9547.46px;white-space:nowrap">(195,009)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:0px;letter-spacing:-2.27px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:294.07px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:991.55px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:1121.48px;white-space:nowrap">Securities</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:1891.92px;white-space:nowrap">$14,484,366</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:2752.33px;white-space:nowrap">$4,983,212</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:3490.44px;white-space:nowrap">$(1,541,910)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:4816.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:5636.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:6106.94px;white-space:nowrap">$596,371</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:6845.05px;white-space:nowrap">$(277,503)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:7577.44px;white-space:nowrap">$(2,030,097)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:8410.92px;white-space:nowrap">$16,214,439</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7160.06px;left:9376.44px;white-space:nowrap">$(1,733,840)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7381.26px;left:144px;white-space:nowrap">Other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7381.26px;left:485.89px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7381.26px;left:1012.36px;white-space:nowrap">Instruments:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7634.47px;left:288px;white-space:nowrap">Restricted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7634.47px;left:875.92px;white-space:nowrap">Currency</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7634.47px;left:1409.04px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:2199.75px;white-space:nowrap">$2,838</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:2752.33px;white-space:nowrap">$6,408,161</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:3490.44px;white-space:nowrap">$(6,353,281)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:4816.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:5636.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:6428.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:6913.46px;white-space:nowrap">$(56,992)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:8069.78px;white-space:nowrap">$37</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:8821.37px;white-space:nowrap">$763</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:7602.47px;left:9882.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7822.33px;left:144px;white-space:nowrap">Receivables:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8052.15px;left:432px;white-space:nowrap">Interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8052.15px;left:876.51px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8052.15px;left:1248.81px;letter-spacing:57.42px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:2062.94px;white-space:nowrap">$304,677</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:2752.33px;white-space:nowrap">$3,471,535</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:3490.44px;white-space:nowrap">$(3,457,388)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:4816.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:5636.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:6428.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:6990.88px;letter-spacing:-1.13px;white-space:nowrap">$(3,311)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:7748.46px;white-space:nowrap">$(28,536)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:8581.94px;white-space:nowrap">$286,977</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8020.15px;left:9547.46px;white-space:nowrap">$(12,966)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:129px;font-weight:bold;position:absolute;top:8430.56px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8619.77px;left:144px;white-space:nowrap">Payables:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8872.97px;left:288px;white-space:nowrap">Deferred </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8872.97px;left:798.57px;letter-spacing:-4.54px;white-space:nowrap">Tax</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8872.97px;left:1024.23px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8872.97px;left:1415.32px;letter-spacing:63.01px;white-space:nowrap">...</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:2302.37px;white-space:nowrap">$779</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:3176.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:3996.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:4816.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:5636.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:6428.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:7248.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:7928.49px;letter-spacing:-1.5px;white-space:nowrap">$(119)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:8821.37px;white-space:nowrap">$660</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:8840.97px;left:9727.49px;letter-spacing:-1.5px;white-space:nowrap">$(119)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9062.18px;left:288px;white-space:nowrap">Investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9062.18px;left:923.96px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9242.18px;left:432px;white-space:nowrap">Purchased</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9242.18px;left:1054.27px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9242.18px;left:1415.32px;letter-spacing:63.01px;white-space:nowrap">...</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:2062.94px;white-space:nowrap">$129,991</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:3176.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:3593.05px;white-space:nowrap">$(131,079)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:4816.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:5636.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:6428.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:7063.75px;white-space:nowrap">$1,088</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:8083.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:8903.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:125px;position:absolute;top:9210.18px;left:9882.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:9704.26px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:42.54px;white-space:nowrap">Purchases</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:698.95px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:1151.21px;white-space:nowrap">all </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:1318.95px;white-space:nowrap">purchases </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:1960.82px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:2106.76px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:2697.46px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:2952.85px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:3543.56px;white-space:nowrap">received </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:4075.98px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:4214.57px;white-space:nowrap">corporate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9700.04px;left:4805.35px;letter-spacing:0px;white-space:nowrap">actions.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:9900.75px;left:0px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:42.54px;white-space:nowrap">Sales</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:407.23px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:859.49px;white-space:nowrap">all </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:1027.23px;white-space:nowrap">sales </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:1370.04px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:1515.98px;white-space:nowrap">securities, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:2143.17px;white-space:nowrap">maturities, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:2784.88px;white-space:nowrap">paydowns</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:3412.15px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:3667.54px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:4258.24px;white-space:nowrap">tendered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:4812.7px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:4951.29px;letter-spacing:0px;white-space:nowrap">corporate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9896.53px;left:5542.07px;white-space:nowrap">actions.</div></div>
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		<div style="height:22px;left:36px;position:absolute;top:121px;width:503px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-3px;white-space:nowrap">10. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:317.59px;letter-spacing:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:719.96px;letter-spacing:-5.17px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1274.08px;letter-spacing:-3.69px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2719.49px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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		<div style="height:50px;left:54px;position:absolute;top:32px;width:504px">
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">35</div></div>
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			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

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			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1002.38px;left:0px;white-space:nowrap">Description</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:618.38px;left:2312.03px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:618.38px;left:2649.92px;letter-spacing:-1.47px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:810.38px;left:2347.81px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:810.38px;left:2534.53px;white-space:nowrap">End </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:810.38px;left:2881.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1002.38px;left:2441.05px;white-space:nowrap">Period</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1002.38px;left:3330px;letter-spacing:-0.88px;white-space:nowrap">Valuation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1002.38px;left:4085.7px;letter-spacing:-1.32px;white-space:nowrap">Technique</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1002.38px;left:5118.75px;white-space:nowrap">Unobservable </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1002.38px;left:6221.33px;white-space:nowrap">Inputs</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1002.38px;left:7445.7px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:426.38px;left:9278.83px;white-space:nowrap">Impact </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:426.38px;left:9838.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:618.38px;left:9234.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:618.38px;left:9571.95px;letter-spacing:-1.47px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:810.38px;left:9456.88px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:810.38px;left:9599.06px;white-space:nowrap">Input </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1002.38px;left:9251.64px;white-space:nowrap">Increases</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:1005.59px;left:9990px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1278.86px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1278.86px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1278.86px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1278.86px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1555.34px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1831.83px;left:180px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1831.83px;left:1087.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1831.83px;left:1256.02px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2108.31px;left:270px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2108.31px;left:856.95px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2108.31px;left:1781.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2300.31px;left:360px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2300.31px;left:938.13px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:350.08px;white-space:nowrap">Argentina</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2574.38px;left:1035px;letter-spacing:60.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:2290.23px;white-space:nowrap">$14,532,732</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:3330px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:3863.44px;white-space:nowrap">comparables</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:5100px;white-space:nowrap">Implied </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:5660.23px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2768.8px;left:5190px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2768.8px;left:5928.36px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:7649.61px;white-space:nowrap">169.8</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:8254.38px;white-space:nowrap">ARS/USD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2576.8px;left:9305.23px;white-space:nowrap">Decrease</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2580.01px;left:9990px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3045.28px;left:270px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3045.28px;left:693.98px;letter-spacing:-3.55px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3045.28px;left:1093.98px;white-space:nowrap">Investments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:350.08px;white-space:nowrap">Argentina</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3319.34px;left:1035px;letter-spacing:60.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:2468.2px;white-space:nowrap">1,681,707</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:3330px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:3863.44px;white-space:nowrap">comparables</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:5100px;white-space:nowrap">Implied </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:5660.23px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3513.77px;left:5190px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3513.77px;left:5928.36px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:7649.61px;white-space:nowrap">169.8</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:8254.38px;white-space:nowrap">ARS/USD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3321.77px;left:9305.23px;white-space:nowrap">Decrease</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3324.98px;left:9990px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3790.25px;left:270px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3790.25px;left:492.27px;white-space:nowrap">Other</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3787.83px;left:940.84px;letter-spacing:60.31px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3790.25px;left:2601.64px;white-space:nowrap">287,740</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3793.46px;left:3180px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4066.74px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4343.22px;left:270px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4343.22px;left:492.27px;white-space:nowrap">Other</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4340.8px;left:940.84px;letter-spacing:60.31px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4343.22px;left:2913.05px;white-space:nowrap">660</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4346.43px;left:3180px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4619.7px;left:270px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4617.28px;left:658.59px;letter-spacing:59.77px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4619.7px;left:2290.23px;white-space:nowrap">$16,501,519</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5122.99px;left:38.73px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:150px;white-space:nowrap">Represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:857.42px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:1076.33px;white-space:nowrap">directional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:1710.86px;white-space:nowrap">change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:2177.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:2316.41px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:2535.31px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:2754.06px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:3104.22px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:3250.16px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:3469.06px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:3819.22px;white-space:nowrap">3 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:3928.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:4446.56px;white-space:nowrap">instruments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:5161.25px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:5416.64px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:5795.86px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:6153.2px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:6452.11px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:6561.56px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:7181.56px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:7436.95px;white-space:nowrap">reasonable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:8122.66px;white-space:nowrap">increase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:8655.08px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:8793.67px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:9012.58px;white-space:nowrap">corresponding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:9880.55px;white-space:nowrap">input. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5118.77px;left:10230.86px;letter-spacing:-3.59px;white-space:nowrap">A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:150px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:770px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:1025.39px;white-space:nowrap">reasonable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:1711.09px;white-space:nowrap">decrease </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:2287.34px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:2425.94px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:2644.84px;white-space:nowrap">input </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:2965.86px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:3345.08px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:3666.09px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:3885px;white-space:nowrap">opposite </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:4417.58px;letter-spacing:-0.28px;white-space:nowrap">effect. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:4809.3px;text-rendering:optimizeLegibility;white-space:nowrap">Significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:5451.17px;white-space:nowrap">impacts, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:5976.25px;white-space:nowrap">if </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:6078.36px;letter-spacing:-1.92px;white-space:nowrap">any, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:6353.28px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:6499.22px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:6717.97px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:7068.13px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:7476.64px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:7695.55px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:8111.33px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:8432.34px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5310.77px;left:8760.7px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5511.47px;left:38.73px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:150px;white-space:nowrap">Represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:857.42px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:966.88px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:1586.88px;white-space:nowrap">impact </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:2009.84px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:2155.78px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:2374.53px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:2724.69px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:2980.08px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5507.25px;left:3198.98px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5707.96px;left:40.87px;white-space:nowrap">c</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:150px;white-space:nowrap">Represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:857.42px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:966.88px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:1586.88px;white-space:nowrap">impact </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:2009.84px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:2155.78px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:2374.53px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:2724.69px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:2943.59px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:3162.5px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5703.74px;left:3381.41px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5904.44px;left:38.73px;white-space:nowrap">d</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:150px;white-space:nowrap">Includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:675.23px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:893.98px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:1244.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:1390.08px;white-space:nowrap">immaterial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:2031.64px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:2447.42px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:2855.94px;white-space:nowrap">liabilities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:3388.28px;white-space:nowrap">developed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:4030.31px;white-space:nowrap">using </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:4380.47px;white-space:nowrap">various </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:4839.92px;white-space:nowrap">valuation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:5401.64px;white-space:nowrap">techniques </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:6072.81px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:6328.2px;white-space:nowrap">unobservable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:7152.5px;white-space:nowrap">inputs. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:7575.63px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:7860px;white-space:nowrap">also </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:8137.19px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:8589.45px;white-space:nowrap">values </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:9005.23px;white-space:nowrap">derived </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:9472.03px;white-space:nowrap">using </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5900.22px;left:9822.19px;white-space:nowrap">private </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:150px;white-space:nowrap">transaction </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:828.36px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:1214.84px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:1367.97px;white-space:nowrap">non-public </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:2009.84px;white-space:nowrap">third </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:2301.56px;white-space:nowrap">party </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:2629.77px;white-space:nowrap">pricing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:3052.73px;white-space:nowrap">information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:3738.28px;white-space:nowrap">which </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:4110.16px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6092.22px;left:4241.41px;white-space:nowrap">unobservable.</div></div>
		</div>
		<div style="height:22px;left:54px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-3px;white-space:nowrap">10. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:317.59px;letter-spacing:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:719.96px;letter-spacing:-5.17px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1274.08px;letter-spacing:-3.69px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2719.49px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">36</div></div>
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			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

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		<div style="background-image:url(data:image/png;base64,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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-2.3px;white-space:nowrap">11. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:306.56px;letter-spacing:-3.64px;white-space:nowrap">Subsequent </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1462.66px;letter-spacing:-3.33px;white-space:nowrap">Events</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:820.46px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1160.68px;white-space:nowrap">evaluated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1991.34px;white-space:nowrap">subsequent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2972.11px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3552.45px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4212.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4513.18px;white-space:nowrap">issuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5273.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5473.74px;text-rendering:optimizeLegibility;white-space:nowrap">the&#160;financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6484.39px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7414.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7765.14px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8715.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9065.92px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9316.14px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:440.33px;white-space:nowrap">occurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1190.65px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1540.9px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2151.21px;white-space:nowrap">disclosure</div><div style="color:#ff0000;font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2961.56px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:200px;position:absolute;top:1507.07px;left:0px;white-space:nowrap">Abbreviations</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1987.05px;left:0px;white-space:nowrap">Counterparty</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2262.09px;left:0px;letter-spacing:-4.15px;white-space:nowrap">BOFA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2279.03px;left:1116px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2279.03px;left:1525.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2279.03px;left:1694.2px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2279.03px;left:2325.45px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2537.14px;left:0px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2554.07px;left:1116px;white-space:nowrap">Citibank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2554.07px;left:1738.5px;letter-spacing:-4.41px;white-space:nowrap">NA</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2812.18px;left:0px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.12px;left:1116px;white-space:nowrap">Deutsche </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.12px;left:1836.39px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.12px;left:2236.7px;white-space:nowrap">AG</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3087.23px;left:0px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3104.16px;left:1116px;white-space:nowrap">Goldman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3104.16px;left:1809.67px;white-space:nowrap">Sachs </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3104.16px;left:2298.81px;white-space:nowrap">Group, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3104.16px;left:2832.41px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3362.27px;left:0px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3379.21px;left:1116px;white-space:nowrap">HSBC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3379.21px;left:1604.98px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3379.21px;left:2014.13px;white-space:nowrap">plc</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3637.32px;left:0px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3654.25px;left:1116px;white-space:nowrap">JPMorgan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3654.25px;left:1889.67px;white-space:nowrap">Chase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3654.25px;left:2396.63px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3654.25px;left:2805.77px;letter-spacing:-4.41px;white-space:nowrap">NA</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3912.36px;left:0px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3929.3px;left:1116px;white-space:nowrap">Morgan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3929.3px;left:1702.95px;white-space:nowrap">Stanley</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4187.41px;left:0px;letter-spacing:-0.81px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4204.34px;left:1116px;white-space:nowrap">Standard </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4204.34px;left:1809.83px;white-space:nowrap">Chartered </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4204.34px;left:2565.77px;white-space:nowrap">Bank</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4462.45px;left:0px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4479.39px;left:1116px;white-space:nowrap">UBS </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4479.39px;left:1480.61px;white-space:nowrap">AG</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4997.5px;left:0px;white-space:nowrap">Selected </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4997.5px;left:790.4px;white-space:nowrap">Portfolio</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5449.98px;left:0px;white-space:nowrap">BADLAR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5274.92px;left:1116px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5274.92px;left:1845.38px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5274.92px;left:2432.33px;white-space:nowrap">Rates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5274.92px;left:2894.75px;white-space:nowrap">Badlar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5274.92px;left:3401.7px;white-space:nowrap">Private </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5274.92px;left:3944.13px;white-space:nowrap">Banks </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5466.92px;left:1116px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5725.03px;left:0px;white-space:nowrap">CER</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5741.96px;left:1116px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5741.96px;left:1898.66px;white-space:nowrap">Stabilization </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5741.96px;left:2805.84px;text-rendering:optimizeLegibility;white-space:nowrap">Coefficient</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6000.07px;left:0px;white-space:nowrap">FRN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6017.01px;left:1116px;white-space:nowrap">Floating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6017.01px;left:1729.67px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6017.01px;left:2112.09px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1987.05px;left:5220px;white-space:nowrap">Cu</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1987.05px;left:5459.94px;white-space:nowrap">r</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1987.05px;left:5529.99px;white-space:nowrap">rency</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2262.09px;left:5220px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2279.03px;left:6336px;white-space:nowrap">Argentine </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2279.03px;left:7065.37px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2537.14px;left:5220px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2554.07px;left:6336px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2554.07px;left:7091.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2812.18px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">BRL</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.12px;left:6336px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.12px;left:6994.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3087.23px;left:5220px;white-space:nowrap">CAD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3104.16px;left:6336px;white-space:nowrap">Canadian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3104.16px;left:7065.45px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3362.27px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">CNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3379.21px;left:6336px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3379.21px;left:6964.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3637.32px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3654.25px;left:6336px;white-space:nowrap">Colombian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3654.25px;left:7145.3px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3912.36px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">EGP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3929.3px;left:6336px;white-space:nowrap">Egyptian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3929.3px;left:7003.11px;white-space:nowrap">Pound</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4187.41px;left:5220px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4204.34px;left:6336px;white-space:nowrap">Ghanaian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4204.34px;left:7074.36px;white-space:nowrap">Cedi</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4462.45px;left:5220px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4479.39px;left:6336px;white-space:nowrap">Indonesian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4479.39px;left:7163.34px;white-space:nowrap">Rupiah</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4737.5px;left:5220px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4754.43px;left:6336px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4754.43px;left:6816.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5012.54px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5029.48px;left:6336px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5029.48px;left:7071.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5287.59px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5304.52px;left:6336px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5304.52px;left:6798.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5304.52px;left:7358.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5562.63px;left:5220px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5579.57px;left:6336px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5579.57px;left:6976.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5837.68px;left:5220px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5854.61px;left:6336px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5854.61px;left:7145.3px;white-space:nowrap">Krone</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6112.72px;left:5220px;white-space:nowrap">RUB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6129.66px;left:6336px;white-space:nowrap">Russian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6129.66px;left:6958.5px;white-space:nowrap">Ruble</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6387.77px;left:5220px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6404.7px;left:6336px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6404.7px;left:6985.22px;white-space:nowrap">Krona</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6662.81px;left:5220px;white-space:nowrap">SGD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6679.75px;left:6336px;white-space:nowrap">Singapore </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6679.75px;left:7109.91px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6937.86px;left:5220px;letter-spacing:-3.31px;white-space:nowrap">TRY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6954.79px;left:6336px;letter-spacing:-0.74px;white-space:nowrap">Turkish </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6954.79px;left:6899.05px;white-space:nowrap">Lira</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7212.9px;left:5220px;white-space:nowrap">USD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7229.84px;left:6336px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7229.84px;left:6842.95px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7229.84px;left:7341px;white-space:nowrap">Dollar</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:634px;left:54px;position:absolute;top:98px;width:503px">
			<div style="width:10080px;height:12591px;position:absolute;top:3.5px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:540.26px;white-space:nowrap">Section </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1190.65px;white-space:nowrap">853 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1540.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1741.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2041.35px;white-space:nowrap">Internal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2691.74px;white-space:nowrap">Revenue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3462.28px;white-space:nowrap">Code, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3992.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4292.84px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4753.13px;white-space:nowrap">intends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5383.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5583.69px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6013.92px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6214.04px;white-space:nowrap">pass </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6644.27px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7304.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7504.89px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7734.9px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8825.54px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8925.64px;white-space:nowrap">1,3</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9175.87px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9275.98px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9376.08px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9426.09px;white-space:nowrap">250</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9776.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:0px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:600.38px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:1080.62px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:1470.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:1821.27px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:1921.38px;white-space:nowrap">24</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:2121.59px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:2171.6px;white-space:nowrap">222</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:2471.92px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:2521.93px;white-space:nowrap">994</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:2872.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:3072.39px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:3672.77px;white-space:nowrap">source </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:4263.05px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:4893.31px;white-space:nowrap">earned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:5503.8px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:5743.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:6044.15px;white-space:nowrap">fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:6494.5px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:6704.56px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:7444.95px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:7685.07px;text-rendering:optimizeLegibility;white-space:nowrap">finally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:8195.27px;white-space:nowrap">determined, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:9195.82px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:9746.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:460.11px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:860.27px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:1410.82px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:2291.13px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:2591.37px;white-space:nowrap">202</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:2891.69px;white-space:nowrap">0</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:2991.8px;white-space:nowrap">.</div></div>
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		<div style="height:25px;left:36px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
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		<div style="height:51px;left:36px;position:absolute;top:74px;width:504px">
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Important </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:1329.26px;white-space:nowrap">Information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:2888.26px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:3216.62px;white-space:nowrap">Shareholders</div></div>
		</div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">38</div></div>
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			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAT4CAYAAAC2UKHWAAAACXBIWXMAABcRAAAXEQHKJvM/AAAemUlEQVR4XuzTQW3DAAAEwUAplEAplEILM0dGsPeoFcWak+a333scx/EAAAAA+A8ZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwOrcC7ifOj8AAMAVzh3A/dT5AQAArnDuCdxPnR8AAOAKGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsM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			<div style="width:10080px;height:12118px;position:absolute;top:3.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">










			<div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:0px;white-space:nowrap">Share </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:550.28px;white-space:nowrap">Repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:1630.72px;white-space:nowrap">Program</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:360.18px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:947.2px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:1477.53px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2337.89px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3228.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3528.72px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3989px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:0px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:950.54px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1200.76px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1400.89px;white-space:nowrap">10% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1811.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2011.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2311.52px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2898.54px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3879.32px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4469.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1060.49px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2131px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2331.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2631.36px;white-space:nowrap">discretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3451.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3651.86px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:390.06px;white-space:nowrap">authorization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1470.76px;white-space:nowrap">remains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2160.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2351.07px;letter-spacing:-0.46px;white-space:nowrap">effect.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:200.13px;white-space:nowrap">exercising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1060.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1290.5px;white-space:nowrap">discretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2110.87px;white-space:nowrap">consistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2971.32px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:3341.43px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:3571.44px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:0px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1100.65px;white-space:nowrap">responsibilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2381.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2681.46px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:3601.85px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:4362.28px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:0px;white-space:nowrap">take </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:390.23px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:730.46px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1410.91px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2041.17px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2501.46px;white-space:nowrap">factors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3141.65px;white-space:nowrap">including, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3952.18px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4252.41px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:0px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:570.15px;white-space:nowrap">to, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:820.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1120.52px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1540.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1740.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2041.08px;white-space:nowrap">discount, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2811.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:3111.77px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:3698.79px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:0px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:690.38px;white-space:nowrap">holdings, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:1460.92px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2181.45px;letter-spacing:-1.48px;white-space:nowrap">history, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2798.26px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:3398.38px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:4308.93px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:250.22px;white-space:nowrap">hand, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:750.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1050.91px;white-space:nowrap">availability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1931.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2131.44px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2591.72px;white-space:nowrap">attractive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3372.01px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4382.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:0px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:690.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:990.62px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1370.83px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1570.96px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2161.23px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2851.61px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3661.88px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4182.19px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:0px;white-space:nowrap">undesirable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:980.68px;white-space:nowrap">because </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1711.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1911.36px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2561.66px;white-space:nowrap">concerns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3342.04px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3552.1px;white-space:nowrap">because </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:4282.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:0px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:380.21px;white-space:nowrap">might </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:870.38px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1490.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1790.95px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2251.23px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2451.36px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3141.74px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3431.87px;white-space:nowrap">consequences. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:0px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:360.18px;white-space:nowrap">repurchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1400.71px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1921.03px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2171.25px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2671.52px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2921.75px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3071.87px;white-space:nowrap">national </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3752.4px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:830.65px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1030.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1331.02px;white-space:nowrap">prevailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2151.47px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2751.59px;white-space:nowrap">price, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3241.76px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3862.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:4062.22px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:0px;white-space:nowrap">requirements, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1150.49px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1810.81px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2621.07px;white-space:nowrap">laws </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3031.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3381.5px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3821.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4171.9px;white-space:nowrap">restrict </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">repurchases, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1090.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1440.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1741.11px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2241.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2441.25px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2781.47px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3762.25px;white-space:nowrap">leverage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:4502.72px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">borrowing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:839.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1038.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1337.84px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1847.16px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1996.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2345.57px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2824.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3124.18px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3710.22px;white-space:nowrap">10% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4119.52px;white-space:nowrap">threshold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:180px;white-space:nowrap">reached, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:930.5px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1180.72px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1750.96px;white-space:nowrap">repurchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2791.49px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3271.82px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3522.04px;white-space:nowrap">completed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4402.53px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:890.6px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1130.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1430.95px;white-space:nowrap">Board. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2011.29px;white-space:nowrap">Until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2421.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2721.62px;white-space:nowrap">10% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3131.89px;white-space:nowrap">threshold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3922.38px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4102.38px;white-space:nowrap">reached, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:460.28px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1560.94px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1860.91px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2301.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2601.47px;text-rendering:optimizeLegibility;white-space:nowrap">flexibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3331.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3531.8px;white-space:nowrap">commence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:500.27px;white-space:nowrap">repurchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1540.81px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1680.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2031.15px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2511.47px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2651.48px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2831.48px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3782.02px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3982.15px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:960.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1150.75px;white-space:nowrap">light </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1530.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1731.09px;white-space:nowrap">prevailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2551.55px;white-space:nowrap">circumstances.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:500.36px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1020.59px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1220.71px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1991.07px;white-space:nowrap">Statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:2951.54px;white-space:nowrap">section, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3621.88px;white-space:nowrap">please </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:0px;white-space:nowrap">see </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:340.22px;white-space:nowrap">note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:740.57px;white-space:nowrap">2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:890.68px;white-space:nowrap">(Shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1570.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1771.08px;text-rendering:optimizeLegibility;white-space:nowrap">Beneficial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:2601.56px;white-space:nowrap">Interest) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:3311.81px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:3571.88px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:0px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:940.43px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:1750.96px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:2341.23px;white-space:nowrap">repurchased.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7414.64px;left:0px;white-space:nowrap">Managed </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7414.64px;left:830.13px;white-space:nowrap">Distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7414.64px;left:1890px;white-space:nowrap">Plan</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:0px;white-space:nowrap">On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:289.73px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:839.44px;white-space:nowrap">10, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:1139.28px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:1639.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:1939.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:2399.06px;white-space:nowrap">announced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:3339.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7930.64px;left:3639.38px;white-space:nowrap">implementation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:200.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:350.24px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:1150.84px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:2071.32px;white-space:nowrap">plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:2511.65px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:3218.82px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:3628.92px;white-space:nowrap">1, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8146.64px;left:3829.04px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8362.64px;left:0px;white-space:nowrap">whereby </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8362.64px;left:730.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8362.64px;left:1030.61px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8362.64px;left:1490.89px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8362.64px;left:1790.86px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8362.64px;left:2281.03px;white-space:nowrap">monthly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8362.64px;left:2961.3px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8362.64px;left:3971.78px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:0px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:1090.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:1290.76px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:1540.99px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:2131.52px;white-space:nowrap">minimum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:2911.55px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:3341.78px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:3701.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8578.64px;left:3902.08px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:790.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:1090.9px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:1791.39px;white-space:nowrap">monthly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:2471.66px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:2771.89px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:3252.13px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:3732.45px;letter-spacing:-2.23px;white-space:nowrap">(NAV) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:4259.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8794.64px;left:4459.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:587.02px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:1327.24px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:1964.27px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:2324.44px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:2784.73px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:3084.7px;white-space:nowrap">calculate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:3845.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9010.64px;left:4145.36px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:0px;letter-spacing:-3.34px;white-space:nowrap">NAV </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:406.76px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:816.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:1117px;white-space:nowrap">previous </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:1847.37px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:2397.66px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:2938.1px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:3188.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:3488.55px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9226.64px;left:4148.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:0px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:760.43px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:1190.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:1380.76px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:1731.01px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:2281.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:2531.51px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:3041.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:3341.95px;letter-spacing:-3.34px;white-space:nowrap">NAV </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:3748.71px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9442.64px;left:3928.71px;white-space:nowrap">calculated. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:360.18px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:1280.65px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:1580.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:1830.85px;white-space:nowrap">calculated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:2691.39px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:2931.5px;white-space:nowrap">7.5% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:3391.79px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:3591.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:3892.15px;white-space:nowrap">previous </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9874.64px;left:0px;letter-spacing:-0.41px;white-space:nowrap">month&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9874.64px;left:677.02px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9874.64px;left:1377.51px;letter-spacing:-5.98px;white-space:nowrap">NAV, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9874.64px;left:1817.75px;white-space:nowrap">divided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9874.64px;left:2438.17px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9874.64px;left:2678.29px;white-space:nowrap">12. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9874.64px;left:2978.53px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9874.64px;left:4079.18px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10090.64px;left:0px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10090.64px;left:780.47px;white-space:nowrap">distribute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10090.64px;left:1560.85px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10090.64px;left:2301.24px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10090.64px;left:3171.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10090.64px;left:3371.75px;white-space:nowrap">satisfy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10090.64px;left:3931.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10090.64px;left:4232.11px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:0px;white-space:nowrap">plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:390.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:740.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:1040.89px;white-space:nowrap">requirements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:2141.37px;white-space:nowrap">prescribed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:3031.79px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:3271.9px;white-space:nowrap">excise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:3832.12px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10306.64px;left:4122.25px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:350.33px;white-space:nowrap">Subchapter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:1321px;white-space:nowrap">M </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:1520.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:1721.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:2021.31px;white-space:nowrap">Internal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:2671.7px;white-space:nowrap">Revenue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:3442.24px;white-space:nowrap">Code. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:3969.32px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10522.64px;left:4329.49px;white-space:nowrap">plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:180px;white-space:nowrap">intended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:920.65px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:1120.78px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:1761.15px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:2851.79px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:3221.89px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:3372.01px;white-space:nowrap">constant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:4152.48px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:4452.71px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.64px;left:0px;white-space:nowrap">guaranteed, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.64px;left:1010.83px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.64px;left:1441.05px;white-space:nowrap">minimum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.64px;left:2221.08px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.64px;left:2581.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.64px;left:2781.39px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.64px;left:3701.87px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.64px;left:4142.2px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:350.33px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:530.33px;white-space:nowrap">intended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:1270.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:1471.11px;white-space:nowrap">narrow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:2071.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:2371.55px;white-space:nowrap">discount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:3091.99px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:3822.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11170.64px;left:4122.77px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:0px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:440.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:790.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:1090.72px;letter-spacing:-3.34px;white-space:nowrap">NAV </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:1497.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:1697.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:1997.84px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:2584.86px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:3325.08px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:3965.36px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:4265.6px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11386.64px;left:4725.88px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:0px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:250.22px;white-space:nowrap">assurance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:1130.71px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:1480.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:1781.19px;white-space:nowrap">plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:2171.51px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:2471.48px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:2721.71px;white-space:nowrap">successful </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:3612.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:3802.15px;white-space:nowrap">doing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11602.64px;left:4292.58px;white-space:nowrap">so.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5760.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6060.5px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6861.09px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7781.57px;white-space:nowrap">plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8221.9px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8422.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8722.27px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9262.62px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:5980.34px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:6900.73px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:7531px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:7711px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:8011.23px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:8771.75px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:9021.97px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:194.64px;left:9172.09px;white-space:nowrap">monthly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:5220px;white-space:nowrap">basis, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:5740.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:6040.46px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:6500.74px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:6800.71px;white-space:nowrap">distribute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:7581.09px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:8391.36px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:8961.68px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:410.64px;left:9442px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:5220px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:5740.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:5940.35px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:6510.67px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:6700.78px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:7171px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:7371.12px;white-space:nowrap">maintain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:8101.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:8331.5px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:626.64px;left:9132.1px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:5220px;white-space:nowrap">rate. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:5630.19px;white-space:nowrap">No </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:5910.29px;white-space:nowrap">conclusions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:6900.82px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:7481.25px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:7731.47px;white-space:nowrap">drawn </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:8271.74px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:8772.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:842.64px;left:9072.42px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1058.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1058.64px;left:6140.39px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1058.64px;left:7200.88px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1058.64px;left:7610.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1058.64px;left:7911.12px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1058.64px;left:8561.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1058.64px;left:8761.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1058.64px;left:9061.88px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:5220px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:6230.48px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:6440.54px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:6850.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:7150.78px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:7650.79px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:7850.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:8151.15px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1274.64px;left:8738.17px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1490.64px;left:5220px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1490.64px;left:6140.48px;white-space:nowrap">plan.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:5580.18px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:6167.2px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:6697.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:6894.4px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:7637.96px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:7998.13px;white-space:nowrap">&#8220;Board&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:8708.29px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2006.64px;left:9098.35px;white-space:nowrap">amend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:5520.23px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:6020.24px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:6220.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:6520.61px;white-space:nowrap">plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:6910.93px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:7120.99px;white-space:nowrap">terminate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:7921.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:8221.55px;white-space:nowrap">plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:8611.88px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:8812px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:9152.23px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2222.64px;left:9589.04px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:5220px;white-space:nowrap">amendment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:6220.55px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:6430.61px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:7371.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:7571.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:7871.4px;white-space:nowrap">plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:8261.72px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:8742.04px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:9182.37px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2438.64px;left:9432.6px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:5220px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:5707px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:5957.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:6257.46px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:6857.58px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:7297.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:7497.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:7798.1px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:8385.12px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2654.64px;left:9125.33px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:5580.18px;white-space:nowrap">plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:5970.5px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:6270.47px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:6520.69px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:7141.03px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:7341.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:7641.39px;white-space:nowrap">periodic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:8321.75px;white-space:nowrap">review </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:8891.89px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:9132.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2870.64px;left:9432.25px;white-space:nowrap">Board, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:5220px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:5980.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:6130.63px;white-space:nowrap">yearly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:6660.79px;white-space:nowrap">review </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:7230.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:7431.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:7731.3px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:8321.84px;white-space:nowrap">minimum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:9101.87px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:9532.09px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3086.64px;left:9892.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3302.64px;left:5220px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3302.64px;left:6070.43px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3302.64px;left:6210.44px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3302.64px;left:6460.66px;white-space:nowrap">adjustment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3302.64px;left:7391.16px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3302.64px;left:7971.59px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3302.64px;left:8221.82px;white-space:nowrap">made.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:5220px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:5420.13px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:6380.6px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:6750.7px;white-space:nowrap">Rule </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:7170.91px;white-space:nowrap">19a-1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:7681.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:7881.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:8181.65px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3818.64px;left:9112.06px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:5220px;white-space:nowrap">Act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:5530.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:5730.21px;white-space:nowrap">1940, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:6230.65px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:7321.29px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:7621.26px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:8251.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:8401.64px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:8931.97px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4034.64px;left:9282.22px;white-space:nowrap">details </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:5520.23px;white-space:nowrap">source </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:6110.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:6310.63px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:6940.9px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:7200.97px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:7641.3px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:8361.83px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:8792.05px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4250.64px;left:9032.17px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:6140.39px;white-space:nowrap">income, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:6820.66px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:7210.99px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:7621px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:7921.23px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:8301.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:8501.57px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4466.64px;left:9311.84px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4682.64px;left:5220px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4682.64px;left:5740.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4682.64px;left:5940.35px;white-space:nowrap">principal. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4682.64px;left:6710.71px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4682.64px;left:7511.04px;white-space:nowrap">determination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4682.64px;left:8651.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4682.64px;left:8851.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4682.64px;left:9152.05px;white-space:nowrap">actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:5220px;white-space:nowrap">source </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:5810.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:6010.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:6310.63px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:6897.66px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:7618.18px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:7958.41px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:8338.62px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:8588.85px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:9089.12px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:9289.25px;white-space:nowrap">year-end. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:5580.18px;white-space:nowrap">actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:6110.51px;white-space:nowrap">source </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:6700.78px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:7441.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:7641.3px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:7871.4px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:8331.68px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:9142.21px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5114.64px;left:9442.18px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5330.64px;left:5220px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5330.64px;left:5940.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5330.64px;left:6130.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5330.64px;left:6430.87px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5330.64px;left:7017.89px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5330.64px;left:7608.43px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5330.64px;left:7818.49px;white-space:nowrap">semiannual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5330.64px;left:8789.06px;white-space:nowrap">reports.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:5220px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:5420.13px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:6150.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:6450.91px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:6741.04px;white-space:nowrap">treatment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:7551.39px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:7941.45px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:8388.37px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5880.64px;left:8798.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:5220px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:6140.65px;white-space:nowrap">treatment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:6951.01px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:7391.34px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:7591.46px;white-space:nowrap">calculate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:8351.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:8652.13px;white-space:nowrap">source </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:9242.4px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6130.64px;left:9442.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6380.64px;left:5220px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6380.64px;left:5807.02px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6380.64px;left:6617.55px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6380.64px;left:6857.67px;white-space:nowrap">shown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6380.64px;left:7427.99px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6380.64px;left:7678.21px;letter-spacing:-0.48px;white-space:nowrap">shareholders&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6380.64px;left:8802.16px;white-space:nowrap">statements. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6630.64px;left:5220px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6630.64px;left:6340.69px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6630.64px;left:6921.12px;white-space:nowrap">refer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6630.64px;left:7341.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6630.64px;left:7541.37px;white-space:nowrap">their&#160;Form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6630.64px;left:8411.48px;white-space:nowrap">1099-DIV </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6630.64px;left:9221.92px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:5520.23px;white-space:nowrap">character </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:6320.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:6670.9px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:7321.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:7521.42px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:8531.89px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:8791.96px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6880.64px;left:9422.23px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7130.64px;left:5220px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7130.64px;left:5980.43px;white-space:nowrap">purposes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7130.64px;left:6820.93px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7130.64px;left:7321.2px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7130.64px;left:7761.53px;letter-spacing:0.24px;white-space:nowrap">shareholder&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7130.64px;left:8895.59px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7130.64px;left:9185.71px;white-space:nowrap">situation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7130.64px;left:9906.15px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:5220px;white-space:nowrap">unique, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:5860.55px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:6000.56px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:6390.62px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:6640.84px;white-space:nowrap">advisable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:7451.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:7651.49px;white-space:nowrap">consult </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:8271.83px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:8421.94px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:8712.07px;white-space:nowrap">advisor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:9342.33px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:9582.45px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7380.64px;left:9782.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7630.64px;left:5220px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7630.64px;left:6180.64px;white-space:nowrap">treatment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7630.64px;left:6991px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7630.64px;left:7191.12px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7630.64px;left:7651.41px;white-space:nowrap">distributions.</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div 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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:350.24px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:960.73px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1651.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1851.24px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2971.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3168.81px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4049.3px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4619.62px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5259.9px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5720.19px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6080.36px;white-space:nowrap">&#8220;Fund&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6720.47px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7090.58px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7480.9px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7681.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7981.26px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8568.28px;text-rendering:optimizeLegibility;white-space:nowrap">offices, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9188.53px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9538.86px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:350.33px;white-space:nowrap">Street, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:930.59px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1300.61px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2301.42px;white-space:nowrap">Florida, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2951.63px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3201.86px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3591.91px;white-space:nowrap">7, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3792.04px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4289.24px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4649.41px;white-space:nowrap">purpose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5349.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5550.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5840.33px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6450.82px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7141.2px;white-space:nowrap">was; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7561.32px;white-space:nowrap">(1) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7831.32px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8031.45px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8461.67px;white-space:nowrap">four </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8818.59px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9562.15px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:300.23px;white-space:nowrap">Fund; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:810.53px;white-space:nowrap">(2) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1080.53px;white-space:nowrap">ratify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1520.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1820.83px;white-space:nowrap">selection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2581.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2781.39px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4852.44px;letter-spacing:-0.81px;white-space:nowrap">LLP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5219.47px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5459.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5759.82px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6800.8px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7651.23px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8171.54px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9092.2px;text-rendering:optimizeLegibility;white-space:nowrap">firm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9442.09px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9702.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:460.28px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:720.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1020.59px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1480.69px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1880.86px;white-space:nowrap">ending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2471.4px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3351.71px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3651.94px;white-space:nowrap">2021; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4152.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4502.72px;white-space:nowrap">(3) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4772.72px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4912.73px;white-space:nowrap">properly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5613.05px;white-space:nowrap">presented, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6513.66px;white-space:nowrap">vote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6903.9px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7154.12px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7304.24px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8304.87px;white-space:nowrap">proposal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9045.35px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9245.48px;white-space:nowrap">amend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:300.23px;white-space:nowrap">Bylaws </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:920.39px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1730.92px;white-space:nowrap">mandatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2631.36px;white-space:nowrap">tender </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3191.75px;letter-spacing:-0.41px;white-space:nowrap">offers. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3728.76px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3948.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4249.07px;white-space:nowrap">meeting; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4989.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5289.7px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6040.11px;white-space:nowrap">persons </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6730.49px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7170.64px;white-space:nowrap">elected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7801.08px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8041.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8341.44px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9432.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9632.2px;white-space:nowrap">serve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:236.87px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:980.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1180.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1480.78px;white-space:nowrap">Fund: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1981.14px;white-space:nowrap">Aditya </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2531.43px;white-space:nowrap">Bindal, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3131.81px;white-space:nowrap">Frederic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3841.96px;white-space:nowrap">Gabriel, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4522.24px;white-space:nowrap">Paul </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4932.51px;white-space:nowrap">Kazarian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5692.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6043.27px;white-space:nowrap">Pierre </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6573.43px;letter-spacing:-0.27px;white-space:nowrap">Weinstein.* </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7530.56px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8651.25px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9031.46px;text-rendering:optimizeLegibility;white-space:nowrap">ratified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9621.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">selection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:760.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:960.56px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3031.61px;letter-spacing:-0.81px;white-space:nowrap">LLP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3398.64px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3638.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3938.99px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:4979.97px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5830.4px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6350.71px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7271.37px;text-rendering:optimizeLegibility;white-space:nowrap">firm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7621.26px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7881.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8181.56px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8641.85px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8901.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9202.15px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9662.26px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">ending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:590.54px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1470.85px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1771.08px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2268.28px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2628.46px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3629.09px;white-space:nowrap">proposal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4369.57px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4569.7px;white-space:nowrap">amend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5170.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5470.31px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6057.33px;white-space:nowrap">By-laws </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6737.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6937.56px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7547.87px;white-space:nowrap">mandatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8448.31px;white-space:nowrap">tender </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9008.7px;letter-spacing:-0.46px;white-space:nowrap">offers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9505.63px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:300.23px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1100.83px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1340.95px;white-space:nowrap">shareholders. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2481.59px;white-space:nowrap">No </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2761.7px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3221.98px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3982.41px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:4352.52px;white-space:nowrap">transacted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5243.03px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5443.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5733.46px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6343.95px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7034.33px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7404.43px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8044.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8244.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8545.08px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:360.18px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:940.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1140.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1440.7px;white-space:nowrap">voting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1971.04px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2171.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2461.46px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3071.95px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3762.33px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:4072.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:4312.62px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:200.13px;white-space:nowrap">Election </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:890.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1090.63px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1547.67px;letter-spacing:-0.74px;white-space:nowrap">Trustees:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:0px;white-space:nowrap">2. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:200.13px;text-rendering:optimizeLegibility;white-space:nowrap">Ratification </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:1140.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:1340.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:1640.92px;white-space:nowrap">selection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:2401.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:2601.47px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:4672.53px;letter-spacing:-0.81px;white-space:nowrap">LLP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:5039.56px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:5279.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:5579.91px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:6620.89px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:7471.32px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:7991.63px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:8912.29px;text-rendering:optimizeLegibility;white-space:nowrap">firm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:9262.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6153.97px;left:9522.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:460.28px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:720.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:1020.59px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:1480.69px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:1880.86px;white-space:nowrap">ending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:2471.4px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:3351.71px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6403.97px;left:3651.94px;white-space:nowrap">2020:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:0px;white-space:nowrap">3. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:196.88px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:557.05px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:1557.69px;white-space:nowrap">proposal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:2298.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:2498.29px;white-space:nowrap">amend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:3098.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:3398.91px;white-space:nowrap">Bylaws </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:4019.06px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:4829.59px;white-space:nowrap">mandatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:5730.03px;white-space:nowrap">tender </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:6290.42px;letter-spacing:-0.46px;white-space:nowrap">offers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:6787.35px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:7157.46px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:7457.7px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:8258.29px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7976.94px;left:8498.41px;white-space:nowrap">shareholders:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:0px;white-space:nowrap">* </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:120.06px;white-space:nowrap">Mary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:570.06px;white-space:nowrap">C. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:800.07px;white-space:nowrap">Choksi, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:1450.28px;white-space:nowrap">Edith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:1910.57px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:2130.64px;letter-spacing:-1.48px;white-space:nowrap">Holiday, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:2817.6px;white-space:nowrap">Gregory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:3517.82px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:3737.9px;white-space:nowrap">Johnson, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:4518.46px;white-space:nowrap">Rupert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:5108.73px;white-space:nowrap">H. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:5338.74px;white-space:nowrap">Johnson, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:6119.3px;letter-spacing:-1.99px;white-space:nowrap">Jr., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:6409.34px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:6599.36px;white-space:nowrap">Michael </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:7269.61px;white-space:nowrap">Luttig, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:7809.96px;white-space:nowrap">Larry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:8270.07px;white-space:nowrap">D. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:8496.83px;white-space:nowrap">Thompson </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9549.91px;left:9397.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:0px;white-space:nowrap">Constantine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:1010.65px;white-space:nowrap">D. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:1237.41px;letter-spacing:-1.11px;white-space:nowrap">Tseretopoulos </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:2408.12px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:2718.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:3018.52px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:3475.55px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:4219.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:4419.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9799.91px;left:4719.46px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3272.06px;left:0px;letter-spacing:-2.37px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3272.06px;left:423.83px;white-space:nowrap">Expiring </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3272.06px;left:1108.36px;white-space:nowrap">2024</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3272.06px;left:4320px;white-space:nowrap">For</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3272.06px;left:5760px;letter-spacing:-0.18px;white-space:nowrap">Withhold</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3468.54px;left:0px;white-space:nowrap">Elected </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3468.54px;left:613.59px;letter-spacing:-1.1px;white-space:nowrap">Trustees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3665.03px;left:0px;white-space:nowrap">Pierre </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3665.03px;left:471.25px;letter-spacing:-0.13px;white-space:nowrap">Weinstein&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;	</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3665.03px;left:4320px;white-space:nowrap">51,355,522</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3665.03px;left:5760px;white-space:nowrap">374,197</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3861.51px;left:0px;white-space:nowrap">Paul </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3861.51px;left:364.69px;white-space:nowrap">Kazarian&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;	</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3861.51px;left:4320px;white-space:nowrap">51,329,793</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3861.51px;left:5760px;white-space:nowrap">399,925</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4058px;left:0px;white-space:nowrap">Aditya </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4058px;left:489.14px;white-space:nowrap">Bindal&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.	</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4058px;left:4320px;white-space:nowrap">33,313,383</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4058px;left:5760px;white-space:nowrap">18,416,336</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4254.48px;left:0px;white-space:nowrap">Frederic </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4254.48px;left:631.25px;white-space:nowrap">Gabriel&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;...	</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4254.48px;left:4320px;white-space:nowrap">33,313,383</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4254.48px;left:5760px;white-space:nowrap">18,416,336</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4450.97px;left:0px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4450.97px;left:471.17px;letter-spacing:-1.1px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4450.97px;left:1084.77px;white-space:nowrap">Nominees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4647.45px;left:0px;white-space:nowrap">Robert </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4647.45px;left:524.69px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4647.45px;left:720.31px;letter-spacing:-0.4px;white-space:nowrap">Wade&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4647.45px;left:4320px;white-space:nowrap">27,239,692</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4647.45px;left:5760px;white-space:nowrap">2,634,936</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4843.94px;left:0px;white-space:nowrap">David </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4843.94px;left:453.52px;letter-spacing:-2.94px;white-space:nowrap">W. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4843.94px;left:684.61px;white-space:nowrap">Niemiec&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.	</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4843.94px;left:4320px;white-space:nowrap">27,226,520</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4843.94px;left:5760px;white-space:nowrap">2,648,109</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5040.42px;left:0px;white-space:nowrap">Harris </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5040.42px;left:471.09px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5040.42px;left:631.17px;white-space:nowrap">Ashton&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5040.42px;left:4320px;white-space:nowrap">27,220,255</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5040.42px;left:5760px;white-space:nowrap">2,654,374</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5236.9px;left:0px;white-space:nowrap">Ann </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5236.9px;left:326.25px;letter-spacing:-2.96px;white-space:nowrap">Torre </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5236.9px;left:735.23px;white-space:nowrap">Bates&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5236.9px;left:4320px;white-space:nowrap">27,104,742</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5236.9px;left:5760px;white-space:nowrap">2,769,887</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7087.39px;left:0px;white-space:nowrap">For</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7087.39px;left:2975px;white-space:nowrap">Against</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7087.39px;left:4145px;white-space:nowrap">Abstain</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7283.87px;left:0px;white-space:nowrap">79,561,454</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7283.87px;left:2975px;letter-spacing:-1.19px;white-space:nowrap">11,094,574</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7283.87px;left:4145px;white-space:nowrap">9948,317</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8910.36px;left:0px;white-space:nowrap">For</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8910.36px;left:2975px;white-space:nowrap">Against</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8910.36px;left:4145px;white-space:nowrap">Abstain</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9106.84px;left:0px;white-space:nowrap">39,938,073</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9106.84px;left:2975px;white-space:nowrap">39,945,661</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9106.84px;left:4145px;letter-spacing:-1.19px;white-space:nowrap">11,720,609</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:36px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
		</div>
		<div style="height:51px;left:36px;position:absolute;top:74px;width:504px">
			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Dividend </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:1230.64px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:3117.66px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:3692.29px;white-space:nowrap">Cash </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:4463.44px;white-space:nowrap">Purchase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:5792.7px;white-space:nowrap">Plan</div></div>
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		<div style="background-color:transparent;height:1px;left:36px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">40</div></div>
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		<div style="background-color:transparent;height:13px;left:66px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:80px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:240.63px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:503.2px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:649.14px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:868.05px;white-space:nowrap">semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1575.55px;white-space:nowrap">report</div></div>
		</div>
		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:610px;left:36px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:12118px;position:absolute;top:3.5px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">








			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:820.46px;letter-spacing:-0.46px;white-space:nowrap">offers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1317.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1467.51px;white-space:nowrap">Dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2217.92px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3368.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3718.74px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4188.96px;white-space:nowrap">Purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4999.39px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5409.67px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5769.84px;white-space:nowrap">&#8220;Plan&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6359.94px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6730.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7030.28px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7780.69px;white-space:nowrap">features:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:0px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:1120.69px;white-space:nowrap">must </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:1560.76px;text-rendering:optimizeLegibility;white-space:nowrap">affirmatively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2570.98px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3001.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3201.33px;white-space:nowrap">participate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:4081.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:4271.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:4572.16px;white-space:nowrap">Plan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5032.44px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5182.47px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5522.7px;white-space:nowrap">decide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6103.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6303.25px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6643.48px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6973.59px;white-space:nowrap">service, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:7643.76px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:8454.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:8804.62px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:9374.94px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:0px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1010.48px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1310.45px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1560.67px;white-space:nowrap">reinvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2441.16px;white-space:nowrap">automatically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3541.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3731.75px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4322.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4522.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4822.38px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5282.67px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5542.73px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5942.9px;white-space:nowrap">account.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:0px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:870.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:1170.62px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:1630.9px;white-space:nowrap">declares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:2361.27px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:3171.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:3361.9px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:3862.18px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:4292.4px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:4502.46px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:5092.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:5292.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:5593.1px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:6103.39px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:6243.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:6543.63px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:7143.75px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:7583.91px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:7763.91px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:8254.34px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:8454.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:8664.52px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:9384.96px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:0px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:480.23px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:960.56px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:1160.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:1460.92px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:2231.46px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:2681.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:2982.04px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:3862.53px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:4162.5px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:4792.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:5093px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:5903.53px;white-space:nowrap">entirely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:6533.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:6723.9px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:7104.11px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:7694.38px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:7894.51px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:8044.63px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:8484.79px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:8975.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:9175.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:9475.58px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:0px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:480.23px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1010.57px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1310.8px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1611.04px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1981.14px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2381.48px;white-space:nowrap">95% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2791.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2991.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:3292.12px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:3692.46px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:4302.69px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:4902.8px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:5342.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:5543.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:5843.32px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:6430.34px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:7070.63px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:7220.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:7520.89px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:8121.01px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:8561.16px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:8741.16px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:9221.31px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:0px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:300.23px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:780.47px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1260.79px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1470.85px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1610.86px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2421.39px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2981.78px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:3552.1px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:4032.42px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:5042.9px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:5353.07px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6033.6px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6413.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6603.93px;white-space:nowrap">cash, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:7084.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:7384.39px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:8264.88px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:8564.85px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:9195.12px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:0px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:890.6px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1140.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1441.05px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1847.9px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2251.49px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2751.68px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3602.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3812.34px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4632.71px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4882.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5183.17px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5633.61px;white-space:nowrap">market.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:160.14px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1040.63px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1380.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1681.08px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:2221.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:2421.65px;white-space:nowrap">submitting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:3292.03px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:4112.67px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:4542.89px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5373.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5573.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5873.64px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:6273.98px;letter-spacing:-0.66px;white-space:nowrap">Administrator, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7424.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7614.49px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7954.72px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:8695.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:8895.23px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:9095.36px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:9525.59px;white-space:nowrap">$100, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:0px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:250.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:450.35px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:600.47px;white-space:nowrap">maximum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1430.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1630.63px;white-space:nowrap">$5,000 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2231.19px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2541.36px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3141.65px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3401.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3701.95px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:4492.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:4692.57px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:5152.85px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:5743.13px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6003.19px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6283.3px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6493.36px;white-space:nowrap">her </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6803.53px;white-space:nowrap">account. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:7530.73px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:8081.02px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:8911.41px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9251.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9501.86px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:240.12px;white-space:nowrap">check </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:760.34px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1440.88px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1631.07px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:2441.34px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:2938.27px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:3651.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:3998.85px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:4452.19px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5272.56px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5652.77px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6012.95px;white-space:nowrap">&#8220;Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6473.23px;white-space:nowrap">Administrator&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:7703.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8053.77px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8444px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8634.2px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:9444.46px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:0px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:713.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1060.58px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1513.92px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2334.29px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2764.51px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:3151.41px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:3511.58px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:3911.92px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:4305.23px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:4835.48px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:5495.89px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:5902.73px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:6356.34px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:6653.14px;white-space:nowrap">10269-0560, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:7704.14px;white-space:nowrap">Attention: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:8511.42px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:9391.9px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:0px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:640.28px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1147.32px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1507.5px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1907.84px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:3018.16px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:3318.13px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:3798.46px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:4228.68px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5059.07px;white-space:nowrap">(less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5489.12px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5639.24px;white-space:nowrap">$5.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6139.69px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6759.84px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7360.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7710.56px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8080.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8230.78px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8540.95px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8901.12px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:9401.4px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:0px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:600.38px;white-space:nowrap">fees) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:1050.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:1250.68px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2131.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2331.3px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2791.58px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:3381.86px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:3632.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:3932.31px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:4382.75px;white-space:nowrap">market.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:360.18px;white-space:nowrap">automatic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:1190.57px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:2271.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:2471.13px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:3281.66px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:3842.05px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:4412.37px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:4892.7px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:5333.03px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:5633.26px;white-space:nowrap">relieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:6213.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:6513.75px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:7394.24px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:7594.37px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:7934.59px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:8564.85px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:8854.98px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:9205.22px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:9595.28px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:0px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:680.54px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:930.76px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:1741.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:1951.35px;white-space:nowrap">distributions.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:0px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:870.38px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:1460.65px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:1770.82px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:2661.42px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:2911.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:3211.88px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:3618.72px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:4022.31px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:4522.5px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:5373.11px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:5583.16px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:6403.54px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:6653.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:6953.99px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:7404.43px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:8054.56px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:8494.89px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:9375.38px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:9675.35px;white-space:nowrap">pay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:150.12px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:460.28px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:820.46px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:1420.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:1620.97px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:2221.35px;white-space:nowrap">fees. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:2658.34px;letter-spacing:-0.83px;white-space:nowrap">Trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:3311.98px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:3702.22px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:4002.19px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:4252.41px;white-space:nowrap">deducted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:5043.08px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:5453.09px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6193.48px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6393.6px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6643.83px;white-space:nowrap">invested. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:7411.03px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:7771.2px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:8171.54px;letter-spacing:0.21px;white-space:nowrap">Administrator&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:9415.28px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:9715.52px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:9975.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:0px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:380.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:580.34px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:1170.62px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:1831.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:2131.35px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:2541.62px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:2721.62px;white-space:nowrap">$15.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:3322.18px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:3632.34px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:4562.84px;white-space:nowrap">plus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:4943.06px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:5093.17px;white-space:nowrap">$0.12 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:5593.62px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:5903.79px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:6404.06px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:7004.44px;white-space:nowrap">fee.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:160.14px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:1040.63px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:1430.68px;white-space:nowrap">withdraw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:2190.94px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:2600.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:2901.18px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:3311.46px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:3931.79px;white-space:nowrap">penalty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:4562.23px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:4762.35px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:5102.58px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:5492.64px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:5732.75px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:6312.92px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:6843.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:7043.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:7343.61px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:7743.96px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:8854.28px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:9244.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:0px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:810.26px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:1307.2px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:2020.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:2367.77px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:2821.11px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:3641.48px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:4071.71px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:4458.6px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:4818.78px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:5219.12px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:5612.43px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:6142.68px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:6803.09px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:7209.93px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:7663.54px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:7960.34px;white-space:nowrap">10269-0560. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:9021.27px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:0px;white-space:nowrap">withdrawal, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:950.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:1250.6px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:2131.08px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:2431.05px;white-space:nowrap">receive, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:3111.33px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:3731.66px;white-space:nowrap">charge, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:4382.05px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:4882.32px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:5792.61px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:6362.93px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:6553.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:6853.27px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:7860.5px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:8360.77px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:8620.84px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:8850.94px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:9131.04px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:9721.32px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:540.35px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:940.69px;white-space:nowrap">Administrator; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:2101.03px;letter-spacing:-2.48px;white-space:nowrap">or, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:2351.16px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:2491.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:2791.41px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:3671.89px;white-space:nowrap">wishes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:4322.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:4622.34px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:5022.69px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:6133.01px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:6432.98px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:6753.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:7053.31px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:8060.54px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:8650.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:9001.14px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:9441.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:0px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:790.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:990.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:1290.85px;white-space:nowrap">participant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:2221.35px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:2591.46px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:2741.57px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:3361.73px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:3962.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:4162.24px;white-space:nowrap">$15.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:4762.79px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:5113.13px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:5483.23px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:6083.61px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:6473.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:6673.97px;white-space:nowrap">$0.12 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:7174.42px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:7484.59px;white-space:nowrap">share. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:8031.62px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:8391.8px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:8792.14px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:299.97px;white-space:nowrap">convert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:940.25px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:1280.48px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:2060.86px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:2651.13px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:3041.46px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:3241.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:3541.82px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:3931.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:4132px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:5032.35px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:5232.48px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:5662.71px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:5862.83px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:6473.06px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:7073.17px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:7513.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:7863.66px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:8303.99px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:8454.11px;white-space:nowrap">check </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:8974.34px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:9174.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:880.49px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:1140.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:1440.79px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:1741.03px;white-space:nowrap">proceeds.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:320.01px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:780.12px;white-space:nowrap">information, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:1770.56px;white-space:nowrap">please </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:2350.99px;white-space:nowrap">see </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:2691.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:2991.45px;letter-spacing:-0.46px;white-space:nowrap">Plan&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:3525.21px;letter-spacing:-3.33px;white-space:nowrap">Terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:4065.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:4415.54px;white-space:nowrap">Conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:5316.06px;white-space:nowrap">located </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:5946.5px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:6146.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:6446.87px;white-space:nowrap">back </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:6877.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:7077.22px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:7407.33px;white-space:nowrap">report.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6024px;letter-spacing:10.67px;white-space:nowrap">Dividend </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6795.2px;letter-spacing:10.9px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8005.89px;letter-spacing:9px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8367.25px;letter-spacing:9.6px;white-space:nowrap">Cash </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8828.11px;letter-spacing:10.67px;white-space:nowrap">Purchase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9701.34px;letter-spacing:9px;white-space:nowrap">Plan</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4573.92px;white-space:nowrap">Not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4814.54px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5077.12px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5223.06px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5441.97px;white-space:nowrap">semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6149.47px;white-space:nowrap">report</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:0px;letter-spacing:-1.1px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:753.66px;white-space:nowrap">Agent</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:0px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:810.26px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:1307.2px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2020.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2367.77px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2821.11px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3678.13px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:0px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:386.89px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:747.07px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1147.41px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1540.72px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2070.97px;white-space:nowrap">Station,</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:406.85px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:860.45px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1157.26px;white-space:nowrap">10269-056</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:0px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:470.21px;white-space:nowrap">416-5585</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.5px;white-space:nowrap">www.astfinancial.com</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:0px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:560.21px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:1270.28px;white-space:nowrap">Service </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:1960.84px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:2250.79px;white-space:nowrap">Registered </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:3231.12px;white-space:nowrap">Shareholders</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:0px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:470.21px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:1480.69px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:1820.92px;white-space:nowrap">now </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:2201.13px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:2451.36px;white-space:nowrap">electronically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:3541.82px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:4232.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:4432.32px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:4582.44px;white-space:nowrap">checking </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:5342.87px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:5552.93px;white-space:nowrap">savings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:6213.25px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:6893.7px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:7093.83px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:7434.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:8144.47px;white-space:nowrap">institution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:8954.91px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:0px;white-space:nowrap">participates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:970.49px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1160.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1450.9px;white-space:nowrap">Automated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:2371.46px;white-space:nowrap">Clearing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:3091.82px;white-space:nowrap">House </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:3662.14px;white-space:nowrap">(&#8220;ACH&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:4331.95px;white-space:nowrap">system. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:4998.78px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5358.96px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5879px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:6539.33px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7159.48px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7339.48px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:8079.96px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:8340.03px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:0px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1090.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1290.76px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1540.99px;white-space:nowrap">charge. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2188.13px;letter-spacing:-6.65px;white-space:nowrap">To </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2428.24px;white-space:nowrap">enroll </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2918.5px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3108.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3408.84px;white-space:nowrap">service, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:4079px;white-space:nowrap">access </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:4689.23px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:5089.39px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:5769.84px;white-space:nowrap">online </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6300.26px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6540.38px;white-space:nowrap">going </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:7030.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:7230.94px;text-rendering:optimizeLegibility;letter-spacing:-0.47px;white-space:nowrap">www.astfinancial.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9001.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9211.64px;white-space:nowrap">dial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9541.85px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:0px;white-space:nowrap">416-5585 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:810.7px;white-space:nowrap">(toll </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1150.75px;white-space:nowrap">free) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1570.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1921.2px;white-space:nowrap">follow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:2431.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:2731.64px;white-space:nowrap">instructions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:3742.03px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:4262.08px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:4922.4px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5222.37px;white-space:nowrap">begin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5712.8px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6082.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6383.14px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6773.38px;white-space:nowrap">scheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:7644.02px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8564.5px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:9304.89px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:0px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:750.41px;white-space:nowrap">enrollment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1640.83px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1830.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2131.17px;white-space:nowrap">service.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3698.64px;left:0px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3698.64px;left:560.21px;white-space:nowrap">Registration</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:0px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:150.03px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:490.25px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:800.42px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:950.54px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:1800.97px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:2801.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:3001.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:3301.96px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:3812.26px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:4692.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:4892.87px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:5483.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:5683.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:5983.51px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:6443.79px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:6784.01px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:7034.24px;white-space:nowrap">electronically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:8124.7px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:8815.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:9015.21px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:9415.37px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:0px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:680.45px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:870.64px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:1680.91px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:2177.84px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:2891.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:3238.42px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:3691.76px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:4548.78px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:4928.99px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:5589.49px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:6109.54px;white-space:nowrap">Registration. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:7166.78px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:7556.84px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:8176.99px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:8907.36px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:0px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:370.11px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:520.22px;white-space:nowrap">convenient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:1440.88px;white-space:nowrap">way </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:1810.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:2011.11px;white-space:nowrap">keep </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:2451.45px;white-space:nowrap">track </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:2891.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:3091.64px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:3681.91px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:4342.41px;white-space:nowrap">book </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:4782.74px;white-space:nowrap">entry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:5232.92px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:6303.43px;white-space:nowrap">electronically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:7393.89px;white-space:nowrap">move </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:7884.05px;white-space:nowrap">book-entry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:8784.49px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:9374.77px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:0px;white-space:nowrap">broker-dealers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:1260.53px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:1920.76px;white-space:nowrap">agents </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:2511.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:2861.54px;white-space:nowrap">DRS </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:3291.59px;white-space:nowrap">eligible </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:3901.99px;white-space:nowrap">issuers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:4572.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:4922.49px;white-space:nowrap">eliminate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:5692.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:5993.09px;white-space:nowrap">possibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:6823.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:7023.52px;white-space:nowrap">lost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:7353.63px;text-rendering:optimizeLegibility;white-space:nowrap">certificates. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:8313.93px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:8633.94px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:0px;white-space:nowrap">information, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:990.44px;white-space:nowrap">please </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:1570.87px;white-space:nowrap">contact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:2191.29px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:3001.55px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:3498.49px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:4211.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:4559.06px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:5012.4px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:5869.42px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6249.64px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6449.77px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6919.98px;white-space:nowrap">416-5585.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5558.64px;left:0px;white-space:nowrap">Shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5558.64px;left:1100.3px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:0px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:620.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:817.21px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:1697.7px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:2268.02px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:2908.3px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:3368.58px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:3678.75px;white-space:nowrap">traded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:4239.14px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:4489.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:4789.6px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:5196.45px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:5600.04px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:6100.22px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:6950.83px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:7461.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:7761.45px;white-space:nowrap">symbol </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:8381.6px;white-space:nowrap">&#8220;GIM.&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:8941.46px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:0px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:500.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:800.68px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:1100.92px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:1581.15px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:2061.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:2411.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:2712.04px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:3312.16px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:3752.31px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:3932.31px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:4692.83px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:4892.96px;white-space:nowrap">franklintempleton.com.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:320.01px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:930.23px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:1870.66px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:2371.11px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:3181.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:3531.97px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:4532.61px;white-space:nowrap">accounts, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:5353.07px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:5673.16px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:6143.38px;white-space:nowrap">416-5585. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:7004.09px;white-space:nowrap">Registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:7924.57px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:9015.21px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:0px;white-space:nowrap">access </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:610.22px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:1010.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:1470.67px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:2151.12px;white-space:nowrap">on-line. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:2791.49px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:3111.5px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:4051.93px;white-space:nowrap">go </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:4302.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:4492.35px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:5302.62px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:5799.55px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:6513.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:6860.13px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:7313.47px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:8170.49px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:8550.7px;white-space:nowrap">website </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:9211.03px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:9411.15px;letter-spacing:-2.48px;white-space:nowrap">www.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">astfinancial.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:1340.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:1690.93px;white-space:nowrap">follow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:2201.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:2501.37px;white-space:nowrap">instructions.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:360.18px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:780.38px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:1390.69px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:1690.93px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:2171.16px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:2651.48px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:2891.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:3091.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:3391.96px;white-space:nowrap">previous </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:4122.33px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:4882.76px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:5222.99px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:5613.05px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:5863.27px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:6603.93px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:7084.25px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:7844.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:8084.88px;white-space:nowrap">calling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:8645.19px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:0px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:880.49px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:1340.77px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:2291.22px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:2701.41px;white-space:nowrap">7 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:2851.52px;white-space:nowrap">a.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:3251.6px;text-rendering:optimizeLegibility;white-space:nowrap">Pacific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:3831.77px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:4221.83px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:4562.05px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:5322.48px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:5662.71px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:5862.83px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:6333.05px;letter-spacing:-1.34px;white-space:nowrap">DIAL </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:6776.54px;white-space:nowrap">BEN/342-5236. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:8054.12px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:8414.3px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:9001.32px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:9301.55px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:480.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:830.65px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:1641.18px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:1951.35px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:2331.56px;white-space:nowrap">listed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:2801.78px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:3052px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:3352.24px;white-space:nowrap">NASDAQ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:4162.41px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:4662.6px;white-space:nowrap">Market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:5312.72px;letter-spacing:-0.46px;white-space:nowrap">Inc.&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:5779.6px;white-space:nowrap">Mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:6369.87px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:6830.16px;white-space:nowrap">Quotation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:7660.72px;white-space:nowrap">Service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:8310.94px;white-space:nowrap">(&#8220;NASDAQ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:9241px;white-space:nowrap">MFQS&#8221;). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:0px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:1120.69px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:1420.93px;white-space:nowrap">receiving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:2191.29px;white-space:nowrap">copies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:2761.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:2961.74px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:3571.96px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:3772.09px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:4862.72px;white-space:nowrap">because </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:5593.27px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:5993.44px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:6583.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:6893.88px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:7744.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:7934.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:8234.65px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:8734.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:8935.05px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:9085.17px;white-space:nowrap">broker </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:9645.38px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:9855.44px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:0px;white-space:nowrap">custodian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:820.55px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:1160.77px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:1811.16px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:2161.41px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:2551.64px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:2801.87px;white-space:nowrap">added </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:3352.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:3552.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:3852.77px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:4439.79px;white-space:nowrap">mailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:5060.04px;white-space:nowrap">list, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:5380.05px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:5620.17px;white-space:nowrap">writing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:6187.06px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:7067.55px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:7637.87px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:8278.15px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:8788.45px;white-space:nowrap">100 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:9138.78px;white-space:nowrap">Fountain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:0px;letter-spacing:-1.48px;white-space:nowrap">Parkway, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:776.87px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:1163.76px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:1523.94px;white-space:nowrap">33030, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:2124.49px;white-space:nowrap">St. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:2394.58px;white-space:nowrap">Petersburg, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:3375.09px;white-space:nowrap">FL, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:3685.17px;white-space:nowrap">33733-8030.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Shareholder </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:1690.31px;white-space:nowrap">Information</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">42</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:751.69px;white-space:nowrap">Approval </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1850.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2139.16px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:289.15px;left:0px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:289.15px;left:1575.49px;white-space:nowrap">Agreements</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:664.48px;left:0px;letter-spacing:-0.33px;white-space:nowrap">TEMPLETON </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:664.48px;left:1156.73px;letter-spacing:-0.46px;white-space:nowrap">GLOBAL </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:664.48px;left:1963.39px;white-space:nowrap">INCOME </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:664.48px;left:2733.4px;white-space:nowrap">FUND</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:914.48px;left:0px;white-space:nowrap">(Fund)</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:220.08px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:370.2px;white-space:nowrap">meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1060.58px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1450.9px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1701.12px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:2471.4px;white-space:nowrap">23, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:2771.63px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:3222.07px;white-space:nowrap">(Meeting), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:4082.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:530.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:726.72px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:1470.04px;white-space:nowrap">(Board) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2120.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2316.64px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:3196.89px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:3833.68px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:4286.78px;letter-spacing:-0.74px;white-space:nowrap">(Trust), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:0px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:760.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:910.63px;white-space:nowrap">majority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1590.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1790.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:2091.09px;white-space:nowrap">trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:2781.39px;white-space:nowrap">who </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3161.6px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3471.77px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3772px;white-space:nowrap">&#8220;interested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:0px;white-space:nowrap">persons&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:750.32px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:990.44px;text-rendering:optimizeLegibility;white-space:nowrap">defined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:1630.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:1821.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:2121.33px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:3051.74px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:3862.18px;white-space:nowrap">Act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:4172.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:0px;white-space:nowrap">1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:450.44px;white-space:nowrap">(Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1558.13px;letter-spacing:-0.61px;white-space:nowrap">Trustees), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:2411.63px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3181.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3532.32px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:4332.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:0px;white-space:nowrap">continuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:1020.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:1220.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:1521.12px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:2441.51px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:3542.17px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:0px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:730.55px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1410.82px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:2201.04px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:2541.18px;white-space:nowrap">(Manager) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:3421.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:3771.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:4068.81px;letter-spacing:-0.95px;white-space:nowrap">Trust, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:250.22px;white-space:nowrap">behalf </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:790.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:990.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:1291.03px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:1751.31px;white-space:nowrap">(Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:2901.97px;white-space:nowrap">Agreement) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:3892.41px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:4152.48px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:0px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:820.63px;white-space:nowrap">one-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:1581.06px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2178.19px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2538.37px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:3586.11px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:0px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:730.37px;white-space:nowrap">advice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:1300.69px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:1710.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:2061.04px;white-space:nowrap">met </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:2411.1px;white-space:nowrap">separately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:3291.59px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:3661.7px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:0px;letter-spacing:-0.83px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:653.55px;white-space:nowrap">counsel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:1323.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:1514.09px;white-space:nowrap">considering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:2484.67px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:3175.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:3375.18px;white-space:nowrap">approve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:4075.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4094.48px;left:0px;white-space:nowrap">continuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4094.48px;left:1020.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4094.48px;left:1220.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4094.48px;left:1521.12px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4094.48px;left:2611.85px;white-space:nowrap">Agreement.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:200.13px;white-space:nowrap">considering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:1170.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:1470.94px;white-space:nowrap">continuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:2491.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:2691.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:2992.06px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:0px;white-space:nowrap">Agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:980.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:1280.74px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:1811.07px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:2581.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:2931.77px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:3862.35px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:0px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:740.48px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:980.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:1280.83px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:2041.26px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:2241.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:2541.62px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:3232px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:3582.33px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:300.23px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:700.4px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:900.53px;white-space:nowrap">meetings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:1680.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:1881.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:2181.27px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:2711.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:3061.93px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:3291.94px;white-space:nowrap">committees. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:4308.93px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:530.33px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:910.55px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:1680.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:2031.24px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:2961.83px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:3902.26px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:190.11px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:980.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:1180.72px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:1330.84px;white-space:nowrap">detailed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:2011.38px;white-space:nowrap">set </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:2301.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:2501.63px;white-space:nowrap">requests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:3242.02px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:3502.09px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:0px;white-space:nowrap">submitted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:830.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:1030.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:1330.75px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:2091.18px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:2331.3px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:3379.04px;letter-spacing:-0.83px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:4032.6px;white-space:nowrap">counsel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:250.22px;white-space:nowrap">behalf </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:790.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:990.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:1291.03px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:2338.77px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:3082.32px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:3272.43px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:4193.09px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:300.23px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:890.77px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:1581.06px;white-space:nowrap">renewal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:2261.43px;white-space:nowrap">process. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:2991.71px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:3191.84px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:3922.38px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:4332.48px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:300.23px;white-space:nowrap">Meeting, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:1040.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:1340.86px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:2388.6px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:3132.16px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:3522.48px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:3672.6px;white-space:nowrap">telephonic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:0px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:690.29px;white-space:nowrap">renewal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:1370.65px;white-space:nowrap">meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:2061.04px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:2261.16px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:2771.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:3071.6px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:4119.35px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:0px;white-space:nowrap">conferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:810.44px;white-space:nowrap">amongst </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:1550.83px;white-space:nowrap">themselves </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:2511.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:2861.54px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:3909.29px;letter-spacing:-0.83px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:0px;white-space:nowrap">counsel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:670.43px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:1170.88px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:1861.17px;white-space:nowrap">renewal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:2541.53px;white-space:nowrap">matters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:3191.66px;white-space:nowrap">and, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:3592px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:3782.11px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:4272.28px;white-space:nowrap">cases, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:0px;white-space:nowrap">requested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:850.61px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:1671.24px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:2611.67px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:3021.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:3321.91px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:4082.34px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:500.36px;white-space:nowrap">contract. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:1287.42px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:1647.6px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:2177.93px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:2948.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:3298.62px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:4229.21px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:4459.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:300.23px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:890.42px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:1030.43px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:1730.92px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:2421.3px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:2611.41px;white-space:nowrap">approving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:3451.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:3752.23px;white-space:nowrap">continuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:500.36px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:1591.08px;white-space:nowrap">Agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:2571.59px;white-space:nowrap">including, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:3382.12px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:3682.35px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:3982.59px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:4552.73px;white-space:nowrap">to: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:0px;white-space:nowrap">(i) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:209.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:510.12px;white-space:nowrap">nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:1120.52px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:1660.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:2011.2px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:2581.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:2781.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:3081.88px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:3792.04px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:4532.52px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:300.23px;white-space:nowrap">Manager; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:1110.67px;white-space:nowrap">(ii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:1360.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:1660.78px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:2581.17px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:3641.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:3841.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:4142.02px;white-space:nowrap">Fund; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:0px;white-space:nowrap">(iii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:289.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:590.1px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:1060.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:1260.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:1560.59px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:2270.74px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:3011.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:3361.55px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:3901.73px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:540.35px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:1300.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:1651.11px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:1881.12px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:2591.46px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:3001.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:3301.7px;white-space:nowrap">relationship </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:4272.28px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:300.23px;white-space:nowrap">Fund; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:810.53px;white-space:nowrap">(iv) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:1110.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:1410.64px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:1951px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:2151.12px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:2661.33px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:3581.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:3781.93px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:4252.15px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:0px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:680.12px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:920px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:1220px;letter-spacing:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:1680.05px;white-space:nowrap">grows; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:2259.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:2610.07px;white-space:nowrap">(v) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:2869.73px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:3559.87px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:3859.87px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:4369.83px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:0px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:490.34px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:1410.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:1610.95px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:2081.16px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:2341.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:2641.46px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:3231.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:3432.04px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.48px;left:3892.32px;white-space:nowrap">investors.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:200.13px;white-space:nowrap">approving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:1040.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:1340.95px;white-space:nowrap">continuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:2361.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:2561.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:2862.07px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:0px;white-space:nowrap">Agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:980.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:1280.74px;white-space:nowrap">Board, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:1861.08px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:2621.6px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:2771.72px;white-space:nowrap">majority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:3451.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:3651.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:0px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:1047.74px;letter-spacing:-0.67px;white-space:nowrap">Trustees, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:1841.31px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:2791.85px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:3142.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:3442.32px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:3942.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:4142.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:0px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:1090.72px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:2021.22px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:2331.39px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:2631.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:2981.78px;white-space:nowrap">reasonable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:3922.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:4272.8px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11704.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11704.48px;left:300.23px;white-space:nowrap">continuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11704.48px;left:1321px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11704.48px;left:1521.12px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11704.48px;left:1951.35px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11704.48px;left:3042.07px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11704.48px;left:3972.57px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11704.48px;left:4152.57px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5520.23px;white-space:nowrap">best </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5910.47px;white-space:nowrap">interests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6640.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6840.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7141.11px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7601.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7951.73px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8181.74px;white-space:nowrap">shareholders. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9322.38px;white-space:nowrap">While </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">attention </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5960.57px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6330.67px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6811px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7011.12px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7241.22px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8181.65px;white-space:nowrap">furnished, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9022.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9322.38px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">discusses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6060.32px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6550.49px;white-space:nowrap">primary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7200.53px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7790.71px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8481.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8681.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8981.46px;letter-spacing:-0.41px;white-space:nowrap">Board&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">determination.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:5220px;white-space:nowrap">Nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:5890.17px;white-space:nowrap">Extent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:6490.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:6860.3px;white-space:nowrap">Quality </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:7520.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:7740.35px;white-space:nowrap">Services</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5580.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6110.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6880.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7231.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8161.79px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9102.22px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5520.23px;white-space:nowrap">nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6130.63px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6670.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7021.32px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7591.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7791.77px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8712.16px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5930.16px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6670.63px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6910.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7210.99px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7971.42px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8321.75px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8551.76px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9262.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9462.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5680.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6030.62px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6260.63px;white-space:nowrap">shareholders. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7398.02px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7788.08px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8728.51px;white-space:nowrap">included, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5820.38px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6280.66px;white-space:nowrap">things, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6861.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7161.24px;text-rendering:optimizeLegibility;white-space:nowrap">qualifications, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8301.88px;white-space:nowrap">background </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:9292.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">experience </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6150.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6350.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6650.95px;white-space:nowrap">senior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7191.21px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8291.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8642.2px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">personnel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6060.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6260.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6560.95px;letter-spacing:-1.1px;white-space:nowrap">Manager, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7361.46px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7601.57px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7961.66px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8201.78px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9142.21px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">succession </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6160.43px;white-space:nowrap">planning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6891.06px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7431.33px;white-space:nowrap">appropriate; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8441.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8742.22px;white-space:nowrap">structure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9492.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6140.39px;white-space:nowrap">personnel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6980.98px;white-space:nowrap">compensation; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8201.69px;white-space:nowrap">oversight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8982.07px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9182.2px;white-space:nowrap">third-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5670.18px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6290.33px;white-space:nowrap">providers; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7130.65px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8051.04px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9111.53px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5570.33px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6170.71px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6881.13px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7821.56px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8081.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8381.87px;white-space:nowrap">Fund; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8892.16px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9502.38px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6040.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6390.88px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7391.51px;white-space:nowrap">services; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8151.68px;white-space:nowrap">legal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8581.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8932.32px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">matters; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5920.14px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6250.08px;white-space:nowrap">controls; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6980.36px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7560.62px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7910.95px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8371.23px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:9081.39px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5460.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5760.35px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6520.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6871.11px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7101.12px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7861.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8211.8px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9312.45px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5220px;white-space:nowrap">charged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5920.49px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6160.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6460.84px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7221.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7571.6px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7801.61px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8511.94px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8712.07px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9012.13px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9502.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5220px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5680.28px;white-space:nowrap">accounts, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6500.74px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7261.26px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8488.65px;white-space:nowrap">explanation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9459.4px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5220px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6147.25px;white-space:nowrap">among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6747.63px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7518.08px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8058.34px;white-space:nowrap">relevant. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8795.48px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:9155.65px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:9685.99px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5220px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5990.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6340.69px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7271.28px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7521.5px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8112.04px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8632.27px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8882.49px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5220px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5720.27px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5960.39px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6647.34px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7527.83px;white-space:nowrap">(FT) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7917.63px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8127.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8427.92px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8888.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9088.33px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5220px;white-space:nowrap">intermediaries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6450.47px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6690.59px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7050.67px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7290.79px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7440.91px;white-space:nowrap">memorandum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8601.33px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9241.7px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9441.83px;white-space:nowrap">third-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5220px;white-space:nowrap">party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5670.18px;white-space:nowrap">servicing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6430.43px;white-space:nowrap">arrangements, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7641.04px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8151.24px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8871.77px;white-space:nowrap">discussion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9762.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5520.23px;white-space:nowrap">changing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6300.88px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7221.36px;white-space:nowrap">landscape </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8092px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8352.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8652.3px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:9159.35px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:9519.52px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5220px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5720.45px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6947.84px;white-space:nowrap">continuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7818.49px;letter-spacing:-0.41px;white-space:nowrap">efforts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:8365.43px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:8715.76px;white-space:nowrap">expenditures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5410.11px;white-space:nowrap">establishing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6410.74px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7127.84px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7888.27px;white-space:nowrap">continuity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8698.71px;white-space:nowrap">plans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:9179.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5220px;white-space:nowrap">developing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6140.74px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6971.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7171.26px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7861.64px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8361.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8562.04px;white-space:nowrap">heightened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5220px;white-space:nowrap">concern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5910.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6100.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6400.72px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6991px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7391.34px;letter-spacing:-1.34px;white-space:nowrap">industry, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8108.26px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8538.49px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8778.6px;white-space:nowrap">cybersecurity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5410.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5710.34px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6320.57px;white-space:nowrap">work-from-home </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7680.76px;white-space:nowrap">environment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8721.3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:9071.63px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:9721.93px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5220px;white-space:nowrap">management.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5580.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6110.51px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6490.72px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7261.08px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7611.42px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8542px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8842.24px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5960.48px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6160.61px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6620.89px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7711.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7911.65px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8672.08px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8862.19px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9012.3px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9412.65px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5220px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5400px;white-space:nowrap">part </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5760.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5960.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6260.54px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6527.2px;white-space:nowrap">family </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7047.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7247.37px;white-space:nowrap">funds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7784.47px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8144.65px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8674.98px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:9175.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5930.42px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6600.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6800.98px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7491.18px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8451.56px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8791.7px;white-space:nowrap">(FRI), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9301.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;letter-spacing:0.34px;white-space:nowrap">Manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6113.85px;white-space:nowrap">parent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6724.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7074.58px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7304.59px;white-space:nowrap">commitment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8334.76px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8534.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8835.12px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:9425.39px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5980.43px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6220.55px;white-space:nowrap">evidenced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7091.19px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7331.31px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7561.32px;white-space:nowrap">reassessment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8731.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8931.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9232.12px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;letter-spacing:-0.33px;white-space:nowrap">offerings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5957.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6147.25px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6937.73px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7137.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7438.1px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8038.21px;white-space:nowrap">environment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9078.75px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9429.08px;white-space:nowrap">project </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">initiatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6010.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6360.64px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6930.97px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7941.36px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8581.73px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8781.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9082.09px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5960.48px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6160.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6460.84px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6921.12px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7161.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7461.47px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7728.13px;white-space:nowrap">organization. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8805.59px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:9165.76px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">specifically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6140.3px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6640.75px;letter-spacing:-0.65px;white-space:nowrap">FT&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7037.4px;white-space:nowrap">commitment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8067.57px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8267.7px;white-space:nowrap">enhancing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9148.45px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5570.33px;white-space:nowrap">controlling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6440.8px;white-space:nowrap">costs, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6960.94px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7201.05px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7941.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8131.55px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8361.56px;white-space:nowrap">outsourcing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9342.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5220px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5810.27px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6970.69px;white-space:nowrap">functions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7791.15px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8141.48px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8731.76px;white-space:nowrap">opportunities, </div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:240.12px;white-space:nowrap">evidenced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1110.76px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1350.88px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1580.89px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2131.17px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3031.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3231.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3532.06px;white-space:nowrap">Legg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3982.5px;white-space:nowrap">Mason </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">companies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:967.24px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1327.41px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1857.74px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2237.96px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2738.41px;letter-spacing:-0.65px;white-space:nowrap">FT&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3135.06px;white-space:nowrap">attention </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3875.63px;white-space:nowrap">focused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4556.07px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">expanding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:880.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1180.99px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2101.46px;white-space:nowrap">opportunities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3182.17px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3442.24px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3672.33px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4162.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4352.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:266.66px;white-space:nowrap">family </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:786.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:986.84px;white-space:nowrap">funds.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">Following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:810.35px;white-space:nowrap">consideration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1931.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2131.17px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2561.4px;white-space:nowrap">information, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3551.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3852.07px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:0px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:370.11px;text-rendering:optimizeLegibility;white-space:nowrap">satisfied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1080.44px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1450.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1750.78px;white-space:nowrap">nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2361.18px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2901.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3251.87px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3822.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4022.31px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:740.48px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:980.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1280.83px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2041.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2391.59px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2621.6px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3331.93px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3532.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3832.29px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:4292.58px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:4642.91px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">shareholders.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2338.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2338.64px;left:489.81px;white-space:nowrap">Performance</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:360.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:890.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:1660.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2011.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2941.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:3242.02px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:4302.51px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:500.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:960.64px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1360.81px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1991.07px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2381.13px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3021.5px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3572.05px;white-space:nowrap">November </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:0px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:300.23px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:797.43px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1157.61px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1687.94px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2618.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2918.76px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3979.25px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:560.3px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1020.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1210.69px;white-space:nowrap">comparison </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2191.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2391.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2691.47px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3751.96px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:4362.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:0px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:590.27px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1080.62px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1781.1px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2771.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2971.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3271.99px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3732.28px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:4452.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:150.12px;white-space:nowrap">universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:880.49px;white-space:nowrap">(Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2020.87px;white-space:nowrap">Universe) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2841.06px;white-space:nowrap">selected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3561.5px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3801.62px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:770.36px;white-space:nowrap">Solutions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1610.86px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1951px;white-space:nowrap">(Broadridge), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3051.47px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3301.7px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:0px;white-space:nowrap">provider </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:700.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:900.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1820.83px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2601.21px;white-space:nowrap">data. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3048.31px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3408.49px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3938.82px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4669.19px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">description </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:920.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1120.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1420.84px;white-space:nowrap">methodology </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2501.54px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2941.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3181.99px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:4112.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:4312.71px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:300.23px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:890.51px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1380.85px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2101.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2291.48px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2441.6px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3522.04px;white-space:nowrap">Universe. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4329.05px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:530.33px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:910.55px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1841.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2141.37px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3201.86px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3812.08px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4072.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4372.38px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:190.11px;white-space:nowrap">comparison </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1170.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1370.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1670.89px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2731.38px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3341.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3541.73px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3691.85px;white-space:nowrap">customized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:410.27px;white-space:nowrap">group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:920.65px;white-space:nowrap">(Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2061.04px;white-space:nowrap">Customized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3061.41px;white-space:nowrap">Peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3491.63px;white-space:nowrap">Group) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:4101.86px;white-space:nowrap">selected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:540.35px;letter-spacing:-1.1px;white-space:nowrap">Manager. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1337.61px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1697.78px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2228.12px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2798.35px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3568.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3919.04px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:460.28px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1520.77px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2131px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2871.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3221.81px;white-space:nowrap">discussions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:350.24px;white-space:nowrap">occurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1100.57px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1470.67px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2161.05px;white-space:nowrap">managers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3011.48px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3211.61px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3741.94px;white-space:nowrap">meetings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:910.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1210.96px;letter-spacing:-1.66px;white-space:nowrap">year. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1641.27px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1801.41px;white-space:nowrap">summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2591.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2791.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3091.82px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3678.84px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:580.17px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:760.17px;letter-spacing:-1.66px;white-space:nowrap">below.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:360.18px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:1440.62px;white-space:nowrap">Universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:2200.87px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:2460.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:2761.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:3221.46px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:3941.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:4242.22px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:350.33px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:580.43px;white-space:nowrap">retail </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:1020.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:1370.92px;white-space:nowrap">institutional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:2321.46px;white-space:nowrap">international </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:3352.15px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:3982.41px;white-space:nowrap">funds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:360.18px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:1440.62px;white-space:nowrap">Customized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:2440.99px;white-space:nowrap">Peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:2871.21px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:3421.49px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:3681.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:3981.8px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:4442.08px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:0px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:740.48px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1000.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1300.78px;letter-spacing:-0.41px;white-space:nowrap">Board&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1957.85px;white-space:nowrap">consideration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:3078.54px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:3799.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:4099.31px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:350.33px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:580.43px;white-space:nowrap">retail </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:1020.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:1370.92px;white-space:nowrap">institutional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:2321.46px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:2851.88px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:3482.14px;white-space:nowrap">funds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:4019.24px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:4379.41px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:0px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:500.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:850.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1150.93px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1737.95px;white-space:nowrap">annualized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2658.69px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3288.96px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3809.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4069.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4369.48px;white-space:nowrap">one-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:0px;white-space:nowrap">three-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:570.23px;text-rendering:optimizeLegibility;white-space:nowrap">five- </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:960.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1310.63px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1970.95px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2611.32px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2981.43px;white-space:nowrap">above </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3521.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3822.1px;white-space:nowrap">medians </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:350.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:540.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:840.67px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1180.63px;white-space:nowrap">quintile </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1801.05px;white-space:nowrap">(best) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2311.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2511.3px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2741.31px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3821.75px;white-space:nowrap">Universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:350.33px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1430.77px;white-space:nowrap">Customized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2431.14px;white-space:nowrap">Peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2861.37px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3508.42px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3868.59px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:4398.93px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:0px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:500.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:850.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1150.93px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1737.95px;white-space:nowrap">annualized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2658.69px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3048.93px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3569.15px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3829.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:4129.45px;white-space:nowrap">one-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:0px;white-space:nowrap">three-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:570.23px;text-rendering:optimizeLegibility;white-space:nowrap">five- </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:960.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1310.63px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1970.95px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2611.32px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2981.43px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3501.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3801.97px;white-space:nowrap">medians </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:350.33px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1080.35px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1270.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1570.69px;text-rendering:optimizeLegibility;white-space:nowrap">fifth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1910.83px;white-space:nowrap">quintile </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2531.25px;white-space:nowrap">(worst) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3131.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3331.32px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3561.33px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:0px;white-space:nowrap">Universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:760.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:1110.59px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2191.03px;white-space:nowrap">Customized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3191.4px;white-space:nowrap">Peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3621.62px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:4218.66px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:530.33px;white-space:nowrap">discussed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1380.76px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1710.88px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2771.37px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3141.47px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:4242.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1100.65px;white-space:nowrap">explained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1921.29px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2271.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2571.77px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3202.03px;white-space:nowrap">underperformance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:500.36px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1010.65px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1771.17px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2031.24px;white-space:nowrap">longer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2581.61px;white-space:nowrap">periods, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3271.99px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3451.99px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:4032.25px;white-space:nowrap">(though </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:0px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:300.23px;white-space:nowrap">exclusively) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1280.48px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1630.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1830.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2131.17px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2718.19px;white-space:nowrap">underperformance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:4239.05px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:0px;white-space:nowrap">2019 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:450.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:800.77px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1351.23px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2451.88px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3022.12px;white-space:nowrap">explained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3842.75px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:4193px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:0px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:490.34px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:820.46px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1310.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1610.86px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2197.88px;white-space:nowrap">underperformance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3718.74px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:4088.85px;white-space:nowrap">due, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:190.11px;white-space:nowrap">part, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:600.29px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:800.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1100.65px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1687.68px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:2518.07px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:2778.13px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3508.68px;white-space:nowrap">rising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3988.83px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:0px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:450.18px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:690.29px;white-space:nowrap">maintaining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:1660.87px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:1980.97px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2671.35px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3371.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3561.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3862.18px;white-space:nowrap">US, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:4212.25px;white-space:nowrap">Europe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:0px;white-space:nowrap">and, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:400.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:590.45px;white-space:nowrap">2019, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1090.9px;white-space:nowrap">Japan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1681.35px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:2782px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3162.22px;white-space:nowrap">explained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3982.85px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:4333.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:587.02px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:1377.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:1567.71px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2388.25px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2578.36px;white-space:nowrap">2019, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3078.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3278.94px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3429.05px;white-space:nowrap">lesser </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3959.21px;white-space:nowrap">extent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6160.61px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6360.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6660.97px;white-space:nowrap">underperformance. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8281.85px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9382.5px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">explained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6040.63px;white-space:nowrap">that, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6440.89px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6631px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7131.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7431.68px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8018.7px;white-space:nowrap">underweight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9049.39px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5980.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6170.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6470.77px;white-space:nowrap">Euro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6901px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7251.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7541.63px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8392.06px;letter-spacing:-1.24px;white-space:nowrap">dollar, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8922.39px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9162.51px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9522.6px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5810.27px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6550.49px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7310.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7501.03px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7931.43px;white-space:nowrap">America, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8691.59px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9071.81px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5720.36px;white-space:nowrap">underperformance. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7337.99px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7698.16px;white-space:nowrap">Board, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8278.51px;letter-spacing:-1.1px;white-space:nowrap">however, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9048.96px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5570.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5870.48px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6330.76px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6700.87px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6890.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7191.21px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7531.17px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7741.23px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8371.67px;white-space:nowrap">quintile </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8992.09px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9182.2px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9682.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5610.23px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6130.46px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7190.95px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7821.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8021.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8321.57px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8908.59px;white-space:nowrap">Customized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">Peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5650.22px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6200.51px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6390.62px;white-space:nowrap">6 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6540.73px;white-space:nowrap">out </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6840.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7041.09px;white-space:nowrap">7 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7191.21px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7681.38px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8091.39px;white-space:nowrap">2012 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8541.83px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9202.32px;white-space:nowrap">2018 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5570.33px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5920.58px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7021.23px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7361.46px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8192.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8392.24px;white-space:nowrap">add </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8742.57px;white-space:nowrap">resources </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9582.89px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5520.23px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6210.62px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7311.27px;white-space:nowrap">team </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7761.45px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8001.56px;white-space:nowrap">needed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8652.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9002.55px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9352.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5900.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6100.4px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6800.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7151.04px;white-space:nowrap">input </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7591.38px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8031.71px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8862.36px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:9062.49px;white-space:nowrap">expand. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5220px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6320.65px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6700.87px;white-space:nowrap">explained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7521.5px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7871.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8171.98px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9252.42px;white-space:nowrap">Universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5220px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5590.11px;white-space:nowrap">comprised </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6470.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6670.55px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7160.89px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7511.13px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8031.36px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8221.46px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8621.81px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:9432.07px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5220px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5840.16px;white-space:nowrap">located </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6470.6px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6660.7px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6860.83px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7291.05px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7751.34px;white-space:nowrap">countries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8581.73px;white-space:nowrap">excluding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9392.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5220px;white-space:nowrap">US, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5570.07px;white-space:nowrap">whereas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6300.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6600.67px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7681.11px;white-space:nowrap">Customized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8681.48px;white-space:nowrap">Peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9111.71px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5220px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5590.11px;white-space:nowrap">comprised </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:6470.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:6670.55px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7160.89px;white-space:nowrap">that, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7561.14px;white-space:nowrap">like </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7881.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8181.47px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8691.77px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:9211.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:9402.1px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:5220px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6030.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6230.39px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6850.55px;white-space:nowrap">located </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7480.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7671.09px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7871.22px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8301.45px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8761.73px;white-space:nowrap">countries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:9592.12px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5420.13px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5930.33px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6320.39px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6570.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6870.85px;white-space:nowrap">US. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7270.93px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:8371.58px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:8771.92px;white-space:nowrap">discussed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:5220px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:5590.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:5890.34px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6420.67px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6970.96px;white-space:nowrap">adjustments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:7991.46px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8341.7px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8782.03px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:9232.47px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:5720.36px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:6307.38px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:6997.76px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:7758.19px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:7948.3px;white-space:nowrap">light </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:8328.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:8528.64px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:9138.87px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:5220px;white-space:nowrap">conditions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:6127.29px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:6487.47px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:7017.8px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:7398.02px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:7898.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:8198.7px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:8785.72px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:9125.68px;white-space:nowrap">(best) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:9635.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5220px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5850.44px;white-space:nowrap">quintile </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:6470.86px;white-space:nowrap">annualized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:7391.6px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:8021.87px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:8542.09px;white-space:nowrap">compared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:9392.52px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:9592.65px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5420.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5650.14px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6730.58px;white-space:nowrap">Universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:7490.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:7841.16px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:8921.6px;white-space:nowrap">Customized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:5220px;white-space:nowrap">Peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:5650.22px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6200.51px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6460.58px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6690.67px;white-space:nowrap">periods. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7377.8px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7737.98px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:8268.31px;white-space:nowrap">concluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:9138.96px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:9489.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5220px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5807.02px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:6897.74px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:7828.24px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:8408.67px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:8658.9px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:9489.55px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:9749.62px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:5220px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6040.63px;white-space:nowrap">one-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6801.06px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:7401.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:7751.78px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:8979.17px;letter-spacing:-0.41px;white-space:nowrap">efforts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:9526.11px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5220px;white-space:nowrap">continue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5950.55px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:6150.67px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:6400.9px;white-space:nowrap">monitored.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6908.64px;left:5220px;white-space:nowrap">Comparative </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6908.64px;left:6360.38px;white-space:nowrap">Fees </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6908.64px;left:6820.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6908.64px;left:7190.68px;white-space:nowrap">Expenses</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5580.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6110.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6880.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7231.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8161.79px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:9102.22px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5520.23px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6107.26px;white-space:nowrap">actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6637.59px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7027.82px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7758.37px;white-space:nowrap">ratio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8158.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8508.87px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8738.88px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5220px;white-space:nowrap">components, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6300.62px;white-space:nowrap">including, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7111.14px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7351.26px;white-space:nowrap">applicable, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8261.89px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:9362.55px;white-space:nowrap">fees; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5220px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5880.23px;white-space:nowrap">agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6380.68px;white-space:nowrap">expenses; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7251.24px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8131.82px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8532.16px;white-space:nowrap">expenses; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:9402.71px;white-space:nowrap">Rule </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5220px;white-space:nowrap">12b-1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5730.38px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6080.71px;white-space:nowrap">non-Rule </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6861.18px;white-space:nowrap">12b-1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7371.56px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7991.72px;white-space:nowrap">fees; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:8431.96px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:8782.29px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9242.58px;white-space:nowrap">non-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5220px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6320.65px;white-space:nowrap">fees. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6757.65px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7117.82px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7648.15px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8028.37px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8528.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8829.05px;white-space:nowrap">quarterly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5570.33px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6160.87px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6771.09px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6911.1px;white-space:nowrap">receives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:7631.37px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:7881.59px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8111.69px;white-space:nowrap">marketing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8952.01px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5220px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6050.39px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6550.66px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6790.78px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7057.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7257.57px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7967.99px;white-space:nowrap">intermediaries. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9195.21px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9555.38px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5220px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6150.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6450.82px;white-space:nowrap">actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6981.15px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7371.39px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8101.93px;white-space:nowrap">ratio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8502.1px;white-space:nowrap">and, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8902.44px;letter-spacing:-1.11px;white-space:nowrap">separately, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5520.23px;white-space:nowrap">contractual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:6450.73px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7551.39px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7851.62px;white-space:nowrap">rate, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8261.81px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8882.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:9182.37px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:5420.13px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:5720.36px;white-space:nowrap">waivers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:6430.52px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:6570.53px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:6910.75px;white-space:nowrap">(Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:8071.35px;white-space:nowrap">Rate) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:8561.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:8761.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:9061.88px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:5410.11px;white-space:nowrap">comparison </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:6390.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:6590.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:6890.89px;white-space:nowrap">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:7531.26px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:8261.81px;white-space:nowrap">ratio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:8661.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:9012.3px;white-space:nowrap">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10158.64px;left:5220px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10158.64px;left:6320.65px;white-space:nowrap">Rate, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10158.64px;left:6800.89px;letter-spacing:-0.95px;white-space:nowrap">respectively, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10158.64px;left:7837.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10158.64px;left:8038.04px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10158.64px;left:8498.32px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10158.64px;left:9088.59px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:5220px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:5920.49px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:6911.02px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:7111.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:7461.47px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:7831.58px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:7981.7px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:8551.67px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10408.64px;left:9282.22px;white-space:nowrap">structure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10658.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10658.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10658.64px;left:5720.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10658.64px;left:6180.64px;white-space:nowrap">selected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10658.64px;left:6901.08px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10658.64px;left:7141.2px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10658.64px;left:8071.79px;white-space:nowrap">(Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10658.64px;left:8882.23px;white-space:nowrap">Group). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:5220px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:6150.59px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:6450.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:6801.15px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:7531.7px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:7932.04px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:8112.04px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:8652.48px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10908.64px;left:9102.92px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:5220px;white-space:nowrap">taken </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:5710.34px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:6120.35px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:6560.68px;letter-spacing:-0.46px;white-space:nowrap">fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:7087.76px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:7527.83px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:8078.12px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:8668.65px;white-space:nowrap">report, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11158.64px;left:9238.89px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:5849.19px;white-space:nowrap">historical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:6608.46px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:7087.71px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:7596.92px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:7946.18px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:8335.25px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:8584.49px;white-space:nowrap">quite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:9023.84px;letter-spacing:-0.33px;white-space:nowrap">different </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11408.64px;left:9720px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:5220px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:5710.34px;white-space:nowrap">currently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:6450.56px;white-space:nowrap">existing, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:7160.89px;white-space:nowrap">particularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:8081.19px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:8271.3px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:8421.42px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:8971.79px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11658.64px;left:9171.91px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11908.64px;left:5220px;letter-spacing:-1.11px;white-space:nowrap">volatility. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11908.64px;left:5946.86px;white-space:nowrap">While </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11908.64px;left:6446.95px;white-space:nowrap">recognizing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11908.64px;left:7417.53px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11908.64px;left:7847.75px;white-space:nowrap">inherent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11908.64px;left:8548.24px;white-space:nowrap">limitation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11908.64px;left:9308.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11908.64px;left:9658.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12158.64px;left:5220px;white-space:nowrap">fact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12158.64px;left:5560.14px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12158.64px;left:5910.38px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12158.64px;left:6640.93px;white-space:nowrap">ratios </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12158.64px;left:7131.09px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12158.64px;left:7481.43px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12158.64px;left:8582.08px;white-space:nowrap">Rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12158.64px;left:9102.3px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:5220px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:5950.37px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:6190.49px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:6760.72px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:7381.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:7731.47px;white-space:nowrap">decrease </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:8521.96px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:8762.08px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12408.64px;left:9332.31px;letter-spacing:-1.66px;white-space:nowrap">grow, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12658.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12658.64px;left:5520.23px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12658.64px;left:6050.57px;white-space:nowrap">believed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12658.64px;left:6771.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12658.64px;left:7071.33px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12658.64px;left:8112.3px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12658.64px;left:8812.62px;white-space:nowrap">conducted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12658.64px;left:9693.28px;white-space:nowrap">by </div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:930.59px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1130.71px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1380.94px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1631.16px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2591.81px;white-space:nowrap">measure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3342.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3542.26px;white-space:nowrap">comparative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:390.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:740.57px;white-space:nowrap">expenses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1607.87px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1968.05px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2898.63px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3999.29px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">includes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:710.01px;letter-spacing:0px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1870.01px;letter-spacing:0px;white-space:nowrap">charges, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2609.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2959.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3259.73px;white-space:nowrap">actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3789.64px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4179.46px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">ratio, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:450.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:710.24px;white-space:nowrap">comparative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1740.67px;letter-spacing:-1.03px;white-space:nowrap">consistency, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2767.76px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3137.87px;white-space:nowrap">shown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3708.19px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3968.26px;white-space:nowrap">Class </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4458.43px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:590.27px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:850.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1150.58px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1610.86px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1961.19px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2221.26px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2661.59px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3121.88px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3522.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3712.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4012.56px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:597.04px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:957.22px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1487.55px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2217.92px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2368.04px;white-space:nowrap">description </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3288.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3488.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3788.88px;white-space:nowrap">methodology </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:440.33px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:680.45px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1611.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1811.16px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2331.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2631.62px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3221.89px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3712.24px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:4432.76px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:4622.87px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:750.5px;white-space:nowrap">Group.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:360.18px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1110.67px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1660.96px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1921.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2221.26px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2681.54px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3402.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3702.3px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:4162.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">eight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:440.33px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:900.62px;white-space:nowrap">international </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1931.31px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2561.57px;white-space:nowrap">funds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3098.67px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3458.85px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3989.18px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:4489.63px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:300.23px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1400.89px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1831.11px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2181.45px;white-space:nowrap">actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2711.78px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3102.01px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3832.56px;white-space:nowrap">ratio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:4232.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:4492.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:460.28px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:900.44px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1420.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1720.99px;white-space:nowrap">medians </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2451.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2801.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2991.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3292.03px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3631.99px;white-space:nowrap">quintile </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:4252.41px;white-space:nowrap">(least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">expensive) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:920.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1120.61px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1350.62px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2101.11px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2698.15px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3058.33px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3588.66px;white-space:nowrap">concluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4459.31px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:300.23px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1400.89px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1831.11px;white-space:nowrap">charged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2531.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2731.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3031.96px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3492.25px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3672.25px;white-space:nowrap">reasonable.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3838.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">Profitability</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:360.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:890.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1660.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2011.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2941.79px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3882.22px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:300.23px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:840.41px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1520.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1760.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2061.12px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2821.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3171.88px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3401.89px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4112.23px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:920.65px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1290.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1591px;white-space:nowrap">operation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2391.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2591.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2891.95px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3402.25px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3602.37px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3932.49px;white-space:nowrap">respect, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:300.23px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:830.57px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1761.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2061.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2521.67px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3432.04px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4132.35px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:540.35px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1300.78px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1651.03px;white-space:nowrap">addresses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2531.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2831.75px;white-space:nowrap">overall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3412px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4322.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;letter-spacing:-0.65px;white-space:nowrap">FT&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:396.65px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:696.71px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1097.05px;white-space:nowrap">business, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1907.49px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2147.61px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2507.7px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2747.81px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2977.82px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3518px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3708.11px;white-space:nowrap">providing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:920.39px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2021.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2371.38px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2831.66px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3541.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3741.94px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:4182.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:300.23px;white-space:nowrap">individual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1100.74px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1591.08px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2141.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2441.69px;white-space:nowrap">12-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3252.13px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3802.5px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:930.5px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1230.73px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1731.18px;white-space:nowrap">being </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2221.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2521.85px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2961.91px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3512.2px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3972.3px;white-space:nowrap">year-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:350.33px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:610.4px;white-space:nowrap">FRI. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:997.12px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1357.29px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1887.63px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2388.08px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2738.32px;white-space:nowrap">although </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3478.97px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">continually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:900.53px;white-space:nowrap">makes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1480.69px;text-rendering:optimizeLegibility;white-space:nowrap">refinements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2471.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2671.26px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2901.27px;white-space:nowrap">methodologies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:4122.07px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:190.11px;white-space:nowrap">calculating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1090.63px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2001.01px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2191.11px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2981.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3181.73px;white-space:nowrap">organizational </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:350.33px;white-space:nowrap">product-related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1611.04px;white-space:nowrap">changes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2391.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2691.83px;white-space:nowrap">overall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3272.08px;white-space:nowrap">methodology </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4352.78px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:800.42px;white-space:nowrap">consistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1660.87px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2030.98px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2381.22px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2821.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3011.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3311.89px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3898.92px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:520.22px;white-space:nowrap">presentations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1650.94px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2060.95px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2471.04px;white-space:nowrap">years. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3007.97px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3368.14px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3898.48px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:500.45px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1727.84px;white-space:nowrap">representation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2928.6px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3278.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3579.08px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:700.31px;white-space:nowrap">excluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1470.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1771.08px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2351.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2551.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2851.61px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3401.89px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:4302.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:300.23px;white-space:nowrap">Legg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:750.67px;white-space:nowrap">Mason </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1340.95px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2261.43px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2611.76px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2962px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:4062.66px;white-space:nowrap">expects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:200.13px;white-space:nowrap">incorporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1150.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1450.9px;white-space:nowrap">legacy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2021.22px;white-space:nowrap">Legg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2471.66px;white-space:nowrap">Mason </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3061.93px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3982.41px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:4322.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:910.37px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1610.68px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2441.43px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2831.66px;letter-spacing:-1.66px;white-space:nowrap">year. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3318.66px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3678.84px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:4209.17px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:500.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:850.69px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2921.75px;letter-spacing:-4.64px;white-space:nowrap">LLP, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3318.84px;white-space:nowrap">auditor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3919.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:4119.35px;white-space:nowrap">FRI </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:350.33px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:940.61px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1207.27px;white-space:nowrap">funds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1747.62px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2087.84px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2538.28px;white-space:nowrap">engaged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3289.04px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3529.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3829.39px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:4589.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">periodically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:950.45px;white-space:nowrap">review </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1520.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1870.93px;white-space:nowrap">assess </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2481.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2781.39px;white-space:nowrap">allocation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3591.91px;white-space:nowrap">methodologies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:200.13px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:450.35px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:890.68px;white-space:nowrap">solely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1400.89px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1641.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1941.24px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2528.26px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3058.59px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3428.7px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4068.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4269.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:910.37px;white-space:nowrap">analysis.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:360.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:890.51px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1390.96px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2618.35px;white-space:nowrap">belief </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3098.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3448.92px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3919.04px;white-space:nowrap">incurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:190.11px;white-space:nowrap">establishing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1190.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1490.98px;white-space:nowrap">infrastructure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2591.37px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3461.75px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3721.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:4022.05px;white-space:nowrap">type </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:4412.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:0px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:590.27px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:990.62px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1881.21px;white-space:nowrap">conducted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2761.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3001.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3302.23px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:4062.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:0px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:230.01px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:940.34px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1330.4px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1630.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1880.86px;white-space:nowrap">fully </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2250.97px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2991.36px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:3181.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:3481.7px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:0px;white-space:nowrap">allocated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:770.54px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:970.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1270.9px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1731.18px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1921.29px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2911.82px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3141.83px;text-rendering:optimizeLegibility;letter-spacing:-0.89px;white-space:nowrap">profitability, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:4088.85px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:0px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:360.09px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:600.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:900.44px;white-space:nowrap">fact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1240.58px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1590.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1891.05px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2311.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2511.39px;text-rendering:optimizeLegibility;white-space:nowrap">profits, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3101.57px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3301.7px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3451.82px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:4042.09px;white-space:nowrap">extent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:740.39px;white-space:nowrap">operational </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1681.08px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:2061.21px;white-space:nowrap">savings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:2721.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3071.87px;text-rendering:optimizeLegibility;white-space:nowrap">efficiencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:4012.29px;white-space:nowrap">initiated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:240.12px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:1380.85px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:1640.92px;white-space:nowrap">part </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2001.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2201.22px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2531.34px;white-space:nowrap">evaluation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3451.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3752.23px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:0px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:930.59px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:2157.98px;white-space:nowrap">outsourcing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3138.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3338.7px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3928.97px;white-space:nowrap">operations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:0px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:510.21px;letter-spacing:-0.46px;white-space:nowrap">effort </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:967.15px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:1307.37px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2017.79px;white-space:nowrap">considerable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3088.48px;white-space:nowrap">up-front </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3758.82px;white-space:nowrap">expenditures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5460.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5760.35px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6520.78px;white-space:nowrap">but, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6871.03px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7271.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7571.43px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7961.75px;white-space:nowrap">run </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8271.91px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8451.91px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9232.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9432.6px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5410.11px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6030.44px;text-rendering:optimizeLegibility;white-space:nowrap">efficiencies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7017.63px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7377.8px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7908.13px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8288.35px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8788.8px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">expenditures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6300.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6490.81px;white-space:nowrap">improving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7321.11px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8321.75px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9031.9px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5720.36px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6230.65px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6470.77px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6830.86px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7070.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7371.21px;white-space:nowrap">need </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7821.65px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8021.78px;white-space:nowrap">implement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8902.09px;white-space:nowrap">systems </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9612.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">meet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5670.18px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6490.81px;white-space:nowrap">regulatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7341.24px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7691.57px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8652.04px;white-space:nowrap">requirements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5950.37px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6360.38px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6910.66px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7210.72px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8051.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8401.38px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6260.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6610.52px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7070.8px;white-space:nowrap">regulatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7921.23px;white-space:nowrap">requirements.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5580.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6110.51px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6490.72px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7421.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7721.54px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8261.89px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8462.02px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8972.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9272.46px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5570.33px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5800.34px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6510.67px;white-space:nowrap">might </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7000.84px;white-space:nowrap">derive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7541.1px;white-space:nowrap">ancillary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8251.35px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8931.8px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9341.81px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">operations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6160.61px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6921.12px;white-space:nowrap">revenues </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7711.61px;white-space:nowrap">generated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8572.32px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8982.33px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5720.45px;white-space:nowrap">services, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6480.62px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7211.16px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7891.61px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8621.98px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9031.99px;white-space:nowrap">personnel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5570.33px;white-space:nowrap">systems </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6280.4px;white-space:nowrap">enhancements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7511.22px;white-space:nowrap">necessitated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8571.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8812px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9212.34px;white-space:nowrap">growth, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5460.12px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5820.21px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6060.32px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6890.8px;white-space:nowrap">leverage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7631.28px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8001.39px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8621.54px;white-space:nowrap">providers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9411.86px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">counterparties. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6460.66px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7021.05px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7471.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7701.5px;white-space:nowrap">consideration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8822.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9022.32px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9252.42px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">factors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5860.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6160.43px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6690.76px;white-space:nowrap">concluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7561.41px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7911.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8211.88px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8632.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8832.22px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9372.39px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5460.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5760.35px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6520.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6871.11px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7101.12px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7811.46px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8221.46px;white-space:nowrap">providing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9001.93px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9712.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5520.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5980.52px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6350.63px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6650.86px;white-space:nowrap">excessive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7491.18px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7681.29px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8091.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8291.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8591.75px;white-space:nowrap">nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9202.15px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9742.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5790.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5990.45px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6700.61px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7441.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7641.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7941.45px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">Economies </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4838.64px;left:6230.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4838.64px;left:6450.21px;white-space:nowrap">Scale</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5580.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6110.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6880.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7231.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8161.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8462.02px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9002.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9202.5px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5520.23px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6280.66px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6670.72px;white-space:nowrap">realize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7250.98px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8171.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8371.58px;white-space:nowrap">scale, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8891.81px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9031.82px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9408.69px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9648.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5680.28px;white-space:nowrap">grows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6210.44px;white-space:nowrap">larger </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6720.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7070.98px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7761.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8061.59px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8648.61px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5220px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5520.23px;white-space:nowrap">structure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6270.47px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6900.64px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7240.87px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8161.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8361.47px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8831.69px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9091.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9391.99px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5420.13px;white-space:nowrap">shareholders. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6560.77px;white-space:nowrap">With </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6970.78px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7611.06px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7811.19px;white-space:nowrap">possible </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8521.61px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:9442.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5220px;white-space:nowrap">scale, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5740.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6040.46px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6570.79px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7071.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7371.47px;white-space:nowrap">existence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8181.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8382.04px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5220px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5520.23px;white-space:nowrap">breakpoints, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:6550.84px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:7061.04px;white-space:nowrap">operate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:7721.54px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:8502.01px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:8702.14px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:9202.41px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5220px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6140.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6340.61px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6810.82px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7180.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7481.16px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:8068.18px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:9158.82px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5220px;white-space:nowrap">reducing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5960.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6260.71px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6847.73px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7564.83px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8665.49px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:9055.72px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:9295.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:9596.07px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5220px;white-space:nowrap">grows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5749.86px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5939.68px;white-space:nowrap">size. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6356.25px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6716.13px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7246.17px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8176.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8476.41px;letter-spacing:0.34px;white-space:nowrap">Manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9369.96px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9779.77px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5220px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5560.22px;white-space:nowrap">analyses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6320.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6520.78px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7251.33px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8171.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8371.93px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8842.15px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9032.26px;white-space:nowrap">managing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9872.84px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5220px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6010.31px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6410.65px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6720.82px;white-space:nowrap">inherently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7551.3px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8121.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8311.55px;white-space:nowrap">light </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8691.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8891.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9192.13px;white-space:nowrap">joint </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9572.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5960.21px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6430.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6780.67px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7791.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8091.3px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8851.73px;white-space:nowrap">incurs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:9381.88px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5520.23px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5786.89px;white-space:nowrap">family </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6306.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6507.07px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6997.41px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7237.53px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7387.65px;white-space:nowrap">whole. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7954.72px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8314.89px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8845.22px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9345.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9695.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5680.28px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6030.62px;white-space:nowrap">experienced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7061.31px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7211.43px;white-space:nowrap">decrease </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8001.91px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8192.02px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8762.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9112.59px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9632.9px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5470.22px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6250.78px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6450.91px;white-space:nowrap">demonstrate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7501.46px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8322.1px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9242.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9442.71px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5410.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5710.34px;white-space:nowrap">near </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6120.62px;white-space:nowrap">term, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6580.63px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6880.87px;white-space:nowrap">concluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7751.51px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8101.76px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8301.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8602.12px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:9142.47px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5420.13px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5890.34px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6280.4px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6530.63px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7210.99px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7451.1px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7601.22px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8361.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8711.98px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8941.99px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5520.23px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6107.26px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7207.91px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7508.14px;white-space:nowrap">structure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8258.38px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8998.86px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:9148.97px;white-space:nowrap">sharing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5420.13px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6100.58px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6470.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6770.92px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7231.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7581.53px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7811.54px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8902.18px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9142.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9442.53px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">grows.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:10518.64px;left:5220px;white-space:nowrap">Conclusion</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:5220px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:5780.39px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:6030.62px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:6260.63px;letter-spacing:-1.24px;white-space:nowrap">review, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:6870.85px;white-space:nowrap">consideration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:7991.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:8341.88px;white-space:nowrap">evaluation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:9212.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:9412.65px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5220px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5810.19px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5950.2px;white-space:nowrap">believed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6670.72px;white-space:nowrap">relevant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7411.11px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8171.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8471.87px;white-space:nowrap">above-described </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5220px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5810.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6160.52px;white-space:nowrap">conclusions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7201.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7501.29px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8031.62px;white-space:nowrap">unanimously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:9092.2px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5520.23px;white-space:nowrap">continuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6541px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6741.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7041.36px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8132.08px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:9062.58px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:9322.65px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:5220px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6040.63px;white-space:nowrap">one-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6801.06px;white-space:nowrap">period.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:736.84px;letter-spacing:-2.05px;white-space:nowrap">Voting </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1531.94px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2500.09px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3006.12px;white-space:nowrap">Procedures</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:360.18px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:947.2px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:1867.59px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:2628.02px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:2968.24px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:3928.89px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:0px;letter-spacing:-1.42px;white-space:nowrap">Voting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:550.46px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:1220.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:1571.04px;white-space:nowrap">Procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:2541.53px;white-space:nowrap">(Policies) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:3331.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:3681.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:3982.15px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:0px;white-space:nowrap">uses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:430.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:630.35px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:1480.78px;white-space:nowrap">how </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:1861px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:2061.12px;white-space:nowrap">vote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:2451.36px;white-space:nowrap">proxies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:3081.62px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:3721.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:3922.12px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:0px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:860.27px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:1980.97px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:2371.03px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:2781.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:3081.36px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:3668.38px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:0px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:670.25px;white-space:nowrap">online </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1200.67px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1400.8px;white-space:nowrap">franklintempleton.com. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:3251.69px;letter-spacing:-0.89px;white-space:nowrap">Alternatively, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:0px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:1090.63px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:1480.69px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2131.08px;white-space:nowrap">copies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2701.41px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2901.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:3201.77px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:3872.02px;white-space:nowrap">free </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:4232.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:0px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:600.38px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:840.5px;white-space:nowrap">calling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1400.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1701.04px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:2211.15px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:2761.44px;white-space:nowrap">collect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3321.65px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3521.78px;white-space:nowrap">(954) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3991.99px;white-space:nowrap">527-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:0px;white-space:nowrap">7678 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:450.44px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:660.5px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:900.62px;white-space:nowrap">sending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:1581.15px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:1731.27px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:2311.44px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:2961.83px;white-space:nowrap">to: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:3211.96px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:3898.92px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:0px;white-space:nowrap">Companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1010.48px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1440.7px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1791.04px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:2181.18px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:2531.51px;white-space:nowrap">Street, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3111.77px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3481.79px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:0px;letter-spacing:-2.23px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:253.39px;white-space:nowrap">33301, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:844.01px;white-space:nowrap">Attention: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:1654.54px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:2164.66px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:2764.95px;white-space:nowrap">Copies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:3375.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:3575.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:3875.63px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:0px;white-space:nowrap">proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:490.17px;white-space:nowrap">voting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1020.5px;white-space:nowrap">records </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1670.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1980.88px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:2361.09px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:2861.37px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:3621.88px;white-space:nowrap">online </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:4152.3px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:0px;white-space:nowrap">franklintempleton.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:1810.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:2161.14px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:2751.59px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:3001.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:3302.05px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:3702.13px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:4542.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:0px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:850.61px;letter-spacing:-0.25px;white-space:nowrap">Commission&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2017.53px;white-space:nowrap">website </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2677.85px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2877.98px;white-space:nowrap">sec.gov </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:3548.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:3898.65px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:4438.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:0px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:440.07px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:990.35px;white-space:nowrap">12-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:1800.79px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:2351.16px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:2901.71px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:3342.04px;white-space:nowrap">30.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:0px;white-space:nowrap">Quarterly </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:1141.44px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:2398.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:2687.85px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:820.46px;text-rendering:optimizeLegibility;white-space:nowrap">files </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:1190.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:1340.68px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:2121.06px;white-space:nowrap">consolidated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:3181.82px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:4022.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:0px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:1010.39px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:1380.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:1680.73px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:2080.81px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:2921.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:3271.46px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:0px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:1040.19px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:1300.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:1600.49px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:1940.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:2290.78px;white-space:nowrap">third </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:2690.95px;white-space:nowrap">quarters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:3401.28px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:3661.35px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:460.11px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:860.27px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:1100.39px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:1350.62px;white-space:nowrap">exhibit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:1920.94px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:2121.06px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:2351.07px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:2871.3px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:3121.52px;white-space:nowrap">Form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:3591.47px;letter-spacing:-2.9px;white-space:nowrap">N-PORT. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:0px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:1120.69px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:1510.75px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:1920.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:2221.08px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:2601.3px;white-space:nowrap">Form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:3071.25px;letter-spacing:-0.93px;white-space:nowrap">N-PORT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:3804.7px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:4044.81px;white-space:nowrap">visiting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:300.23px;letter-spacing:-0.25px;white-space:nowrap">Commission&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:1467.16px;white-space:nowrap">website </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:2127.48px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:2327.61px;letter-spacing:-1.48px;white-space:nowrap">sec.gov. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:3031.35px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:3391.52px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:3771.74px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:4181.75px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:0px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:380.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:630.44px;white-space:nowrap">viewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:1240.75px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:1591.08px;white-space:nowrap">copied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:2171.51px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:2371.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:2671.88px;letter-spacing:-0.25px;white-space:nowrap">Commission&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:3838.8px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:0px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:880.49px;white-space:nowrap">Room </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:1410.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:1600.75px;letter-spacing:-0.56px;white-space:nowrap">Washington, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:2644.63px;white-space:nowrap">DC. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:3004.63px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:3955.08px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:300.23px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:1190.83px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:1390.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:1691.19px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:2231.46px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:3111.94px;white-space:nowrap">Room </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:3642.1px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:4032.16px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6796.08px;left:0px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6796.08px;left:740.65px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6796.08px;left:980.77px;white-space:nowrap">calling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6796.08px;left:1541.07px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6796.08px;left:2011.29px;white-space:nowrap">SEC-0330.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:190.2px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1000.46px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1497.39px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2210.89px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2557.97px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3011.31px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3831.68px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4211.89px;white-space:nowrap">(&#8220;AST&#8221;), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:299.97px;white-space:nowrap">act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:590.1px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:830.21px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1230.56px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2340.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2691.21px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2991.18px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3441.62px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3691.85px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4372.29px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">participating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1020.59px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2111.22px;white-space:nowrap">(&#8220;participant&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3231.47px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3741.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4042.09px;white-space:nowrap">Dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1150.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1500.82px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1971.04px;white-space:nowrap">Purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2781.47px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3191.75px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3551.92px;white-space:nowrap">&#8220;Plan&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4142.02px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:300.23px;white-space:nowrap">same </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:790.4px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1290.67px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1530.79px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1881.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2071.14px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2581.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2881.58px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3888.81px;white-space:nowrap">present </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:590.27px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:900.44px;white-space:nowrap">registered, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1800.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2151.21px;white-space:nowrap">put </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2451.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2751.68px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3161.95px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3502.18px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3989.18px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4229.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4429.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:339.96px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:900.18px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1300.52px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1560.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1710.7px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2431.23px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2641.29px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3211.61px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3691.93px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:400.25px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:797.08px;white-space:nowrap">receives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1517.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1817.58px;white-space:nowrap">authorization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2898.28px;white-space:nowrap">duly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3278.5px;white-space:nowrap">executed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4059.05px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4299.17px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">participant.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">2. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:200.13px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1067.26px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1947.74px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2518.07px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3158.35px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3618.63px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3978.81px;white-space:nowrap">&#8220;Fund&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">declares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:730.37px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:880.49px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1800.97px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2210.98px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2781.3px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3261.62px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3471.68px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3721.9px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:720.53px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1401.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1591.17px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2091.45px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2521.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2731.73px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3322px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3522.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3822.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:4282.65px;white-space:nowrap">(&#8220;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">shares&#8221;), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:760.17px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:900.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1200.41px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1800.53px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2240.68px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2550.85px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3051.12px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3301.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3601.58px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4372.12px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">equals </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:580.43px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:790.49px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1510.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1811.16px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2111.4px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2591.63px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3071.95px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3382.12px;white-space:nowrap">share, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3932.4px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:299.97px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:930.23px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1360.46px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2080.99px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2291.04px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3211.52px;white-space:nowrap">entirely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3841.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4031.89px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:640.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:980.68px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1377.51px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1797.71px;white-space:nowrap">automatically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2898.19px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3528.46px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3958.68px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:590.27px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:850.34px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1730.83px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2501.28px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3261.8px;white-space:nowrap">aggregate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:4122.51px;white-space:nowrap">fractions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:360.18px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1020.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1220.63px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2041.26px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2501.54px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3091.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3291.94px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3542.17px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:4232.55px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:880.49px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1650.94px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2071.14px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2321.37px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3271.9px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3512.02px;white-space:nowrap">dividing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:4172.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:0px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:870.64px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1360.9px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2011.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2211.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2511.65px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3081.97px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3562.29px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:210.06px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:930.59px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1611.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1811.25px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2781.74px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3021.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3322.09px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3909.11px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:4209.35px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:480.32px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:790.49px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1290.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1490.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1791.12px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2251.41px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2841.68px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3091.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3392.14px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:4162.68px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:0px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:740.48px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1090.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1390.96px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1851.24px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2271.45px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2571.68px;white-space:nowrap">issue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3041.89px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3472.12px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4062.39px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4262.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4412.64px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:0px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:480.15px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:880.49px;white-space:nowrap">95% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1290.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1490.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1791.12px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2401.35px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3001.46px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3441.62px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3751.79px;white-space:nowrap">share. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:4298.82px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:0px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:770.54px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1170.88px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1470.85px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1721.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2021.31px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2701.85px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3102.19px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3362.26px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3792.48px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:210.06px;white-space:nowrap">dividend.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">3. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:200.13px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1070.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1370.74px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1831.03px;white-space:nowrap">declares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2561.4px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2711.51px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3631.99px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:4042px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:480.32px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:690.38px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:940.61px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1570.87px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2291.4px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2971.93px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3352.15px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3542.26px;white-space:nowrap">cash, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4022.49px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4232.55px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4372.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:587.02px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:887.26px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1367.49px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1847.81px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2157.98px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2658.25px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3378.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3678.93px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:4279.04px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:310.17px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:810.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1060.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1360.9px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2131.44px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2571.86px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2968.68px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3388.89px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3869.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:4169.44px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:200.13px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:630.35px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1350.88px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1560.94px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2481.42px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3161.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3362.08px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4332.57px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:300.23px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1090.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1290.85px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1751.13px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2341.41px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2591.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2891.87px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3342.3px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3942.42px;white-space:nowrap">(less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:4372.47px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:310.17px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:670.34px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1170.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1370.74px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1971.12px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2361.36px;white-space:nowrap">incurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3061.67px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3431.78px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:4072.06px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:4272.19px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:600.12px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1480.61px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1670.71px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2591.37px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2961.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3261.71px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:4342.15px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:430.22px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1150.75px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1360.81px;white-space:nowrap">distribution). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2391.24px;white-space:nowrap">If, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2591.28px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3141.74px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3538.56px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3878.79px;white-space:nowrap">completed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:230.01px;white-space:nowrap">purchases, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1160.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1460.74px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2060.86px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2501.02px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3221.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3521.69px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3821.92px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:480.32px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:790.49px;white-space:nowrap">share, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1340.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1641.01px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2341.49px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2651.66px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3151.93px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3942.42px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:390.32px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:620.51px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1017.33px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1407.39px;white-space:nowrap">exceed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2037.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2338.07px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2638.3px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3118.54px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3598.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3798.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:4099.22px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:640.28px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1370.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1560.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1861px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2761.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2961.65px;white-space:nowrap">fewer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3451.82px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4042.09px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4442.43px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:300.23px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1020.76px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1230.82px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1801.14px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2281.46px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3201.94px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3552.28px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:4002.71px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:4393.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:590.27px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1160.6px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1400.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1700.95px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2161.23px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2361.36px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2661.59px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3141.83px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3622.15px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3932.31px;white-space:nowrap">share. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:0px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:460.28px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1340.77px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1640.74px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1890.97px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:2391.24px;white-space:nowrap">promptly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3131.46px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3541.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3841.88px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:0px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:400.34px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:660.41px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1090.63px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1811.16px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:2021.22px;white-space:nowrap">distribution, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:2991.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3342.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3532.15px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3782.37px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:4272.71px;white-space:nowrap">later </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:0px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:400.34px;text-rendering:optimizeLegibility;white-space:nowrap">five </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:730.46px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:1490.89px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:1921.11px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2331.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2531.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2831.57px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:3391.79px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:3792.13px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:4052.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:4352.43px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:0px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:720.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:930.59px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:1851.06px;white-space:nowrap">except </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:2431.41px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:2971.67px;white-space:nowrap">temporary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:3831.94px;white-space:nowrap">curtailment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:210.06px;white-space:nowrap">suspension </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:1170.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:1370.83px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:2161.32px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:2341.32px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3211.7px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3411.83px;white-space:nowrap">comply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:4031.98px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:0px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:860.63px;white-space:nowrap">provisions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:1720.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:1921.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:2221.35px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:2881.67px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:3691.93px;white-space:nowrap">laws.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">4. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5410.2px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5570.33px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6450.82px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6791.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7091.28px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7631.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7831.85px;white-space:nowrap">submitting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8702.23px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6050.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6240.59px;letter-spacing:-3.99px;white-space:nowrap">AST, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6670.72px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6860.83px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7201.05px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7941.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8141.57px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8341.7px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8771.92px;white-space:nowrap">$100, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9272.37px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9522.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9722.72px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">maximum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6050.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6250.17px;white-space:nowrap">$5,000 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6850.72px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7160.89px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7761.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8021.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8321.48px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9111.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9312.1px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5810.27px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6070.34px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6350.45px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6560.51px;white-space:nowrap">her </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6870.67px;white-space:nowrap">account. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7597.88px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8148.16px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8978.55px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9368.61px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5720.27px;white-space:nowrap">electronically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6810.73px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7461.3px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7858.13px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8058.25px;text-rendering:optimizeLegibility;letter-spacing:-0.47px;white-space:nowrap">www.astfinancial.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5430.06px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5670.18px;white-space:nowrap">check </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6190.4px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6870.94px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7071.06px;white-space:nowrap">&#8220;American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7941.27px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8438.2px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9151.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9498.78px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6040.37px;white-space:nowrap">LLC&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6480.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6830.86px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7221.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7411.29px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8221.55px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8718.49px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9431.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5673.34px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6493.71px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6923.94px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7310.83px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7671.01px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8071.35px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8464.66px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8994.9px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5626.85px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6080.45px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6377.26px;white-space:nowrap">10269-0560, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7428.25px;white-space:nowrap">Attention: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8235.53px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9116.02px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5860.28px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6360.64px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6757.47px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7177.68px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7658px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8088.22px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8918.61px;white-space:nowrap">(less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9348.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9498.78px;white-space:nowrap">$5.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5840.16px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6440.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6790.87px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7160.98px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7311.09px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7621.26px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7981.44px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8481.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8681.84px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:9282.22px;white-space:nowrap">fees) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:9732.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5220px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6100.49px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6300.62px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6760.9px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7351.17px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7601.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7901.63px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8352.07px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9002.2px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9242.31px;white-space:nowrap">discussed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5220px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5740.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5930.42px;white-space:nowrap">paragraph </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6801.06px;white-space:nowrap">6. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6991.26px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7388.09px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7808.29px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8298.46px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8728.68px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5220px;white-space:nowrap">promptly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5960.21px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6790.96px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7041.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7341.42px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8061.94px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8802.33px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9252.69px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9762.89px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5220px;white-space:nowrap">usually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5830.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6130.55px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6460.66px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7221.09px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7561.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7761.45px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8201.78px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8802.07px;letter-spacing:-2.48px;white-space:nowrap">or, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9052.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9242.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9542.55px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5220px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5570.24px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:6030.53px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:6210.53px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:6460.75px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7181.28px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7391.34px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8311.82px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8702.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8892.25px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:9042.36px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:9632.72px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:5220px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:5640.21px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6130.37px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6560.6px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7441.08px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7691.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7991.54px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8321.66px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:9082.09px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:9422.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:9622.44px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5220px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5820.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6170.63px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6360.73px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6610.96px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7101.3px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7561.41px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7961.75px;white-space:nowrap">30 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:8211.97px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:8642.2px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:9052.38px;white-space:nowrap">receipt, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:5220px;white-space:nowrap">except </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:5800.34px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6340.61px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:7210.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:7411.11px;white-space:nowrap">comply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8031.27px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8401.38px;white-space:nowrap">provisions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:9261.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:9461.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:5220px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:5880.32px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:6690.59px;white-space:nowrap">laws. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:7140.76px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:7500.94px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:8281.32px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:9021.71px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:5220px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:5590.11px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:5990.45px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:6320.57px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:7081px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:7511.22px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:8071.61px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:8321.84px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:9242.23px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5220px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5640.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5890.43px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:6610.87px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:7161.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:7461.47px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:8211.88px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:8762.17px;white-space:nowrap">unless </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:9332.49px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5530.17px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5990.27px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6390.62px;white-space:nowrap">30 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6640.84px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:7071.06px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:7451.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:7751.51px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:8141.75px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:9062.14px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:9512.49px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:5220px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:5730.21px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6160.43px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6590.65px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7331.04px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7631.02px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7881.24px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:8601.68px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:8801.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:9102.04px;white-space:nowrap">participant. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5220px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5616.83px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:6037.03px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:6557.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:6757.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:7057.62px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:7938.11px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:8218.21px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:8428.27px;white-space:nowrap">her </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:8738.44px;white-space:nowrap">entire </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:9238.71px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:5220px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:5650.22px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6390.62px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6841.05px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:7421.22px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:7951.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:8151.68px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:9052.03px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5450.19px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5847.01px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:6147.25px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:6517.35px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:6917.7px;white-space:nowrap">48 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:7167.92px;white-space:nowrap">hours </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:7668.19px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:8228.58px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:8658.81px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:9399.2px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:9579.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:5470.22px;white-space:nowrap">invested. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:6240.67px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:6700.96px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7281.12px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7811.46px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:8231.66px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:8481.88px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:8872.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:9062.31px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:9459.14px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:9699.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:5220px;white-space:nowrap">participant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:6150.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:6390.62px;white-space:nowrap">discussed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:7241.04px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:7761.36px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:7951.46px;white-space:nowrap">paragraph </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:8822.11px;white-space:nowrap">14.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5220px;white-space:nowrap">5. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5420.13px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5740.14px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5970.23px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6760.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6960.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7261.08px;white-space:nowrap">Plan: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7721.37px;white-space:nowrap">(a) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7991.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8291.6px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8891.72px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:9331.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:9532px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5220px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5807.02px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6397.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6647.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6797.64px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7587.95px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7988.29px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8408.5px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8658.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8958.96px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:9289.07px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5220px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5660.16px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5910.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6210.62px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6617.46px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7021.05px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7521.24px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8371.85px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8622.07px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8972.31px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:9372.66px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:9512.67px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5220px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5980.43px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6320.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6670.99px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6811px;white-space:nowrap">not, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7161.24px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7411.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7711.7px;white-space:nowrap">preceding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:8552.29px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9312.71px;letter-spacing:-2.67px;white-space:nowrap">day, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9689.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5220px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5360.01px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5820.29px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6000.29px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6250.52px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6630.73px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6880.96px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7311.18px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8161.79px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8412.01px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8842.24px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:9292.59px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:9692.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5220px;white-space:nowrap">mean </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5720.27px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6450.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6751.05px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:7361.37px;white-space:nowrap">bid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:7651.58px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8001.91px;white-space:nowrap">asked </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8532.25px;white-space:nowrap">quotations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:9412.91px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:9672.98px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5220px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5810.27px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6060.5px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6490.72px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7341.33px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7591.55px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8021.78px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8472.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8822.46px;white-space:nowrap">(b) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9092.46px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9392.7px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5220px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5700.32px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6010.49px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6510.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6710.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7011.12px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7598.14px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8188.42px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8438.64px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8588.76px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:9379.07px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5220px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5640.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5890.43px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:6130.55px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7081.08px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7321.2px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7531.26px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7781.48px;white-space:nowrap">behalf </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8321.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8522.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8822.29px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">6. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5420.13px;white-space:nowrap">Open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5910.47px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6510.59px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7391.07px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8131.55px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8391.62px;white-space:nowrap">above </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8932.06px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9322.12px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5720.27px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5970.5px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6310.72px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7120.99px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7951.64px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8491.9px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8952.19px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9542.46px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">traded, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5830.4px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6020.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6320.74px;white-space:nowrap">over-the-counter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7691.4px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8291.51px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8501.57px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8691.68px;white-space:nowrap">negotiated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6240.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6590.83px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6980.89px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7231.11px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7481.34px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7911.56px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8411.57px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8651.69px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8851.82px;white-space:nowrap">price, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:9341.98px;white-space:nowrap">delivery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5570.33px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6390.7px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6620.89px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7017.71px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7437.92px;white-space:nowrap">determine. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8338.36px;white-space:nowrap">Participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9238.8px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5220px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5610.32px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5840.51px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6237.33px;white-space:nowrap">uninvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7157.99px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7457.96px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7758.19px;white-space:nowrap">bear </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8168.47px;white-space:nowrap">interest, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8858.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9209.09px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9349.1px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5220px;white-space:nowrap">understood </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6170.71px;white-space:nowrap">that, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6570.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6761.07px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7101.3px;white-space:nowrap">event, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7631.72px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8028.54px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8448.75px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8889.08px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:9139.31px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5410.11px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6330.76px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6700.87px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7041.09px;white-space:nowrap">inability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7691.4px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7891.52px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8682.01px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:9142.29px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5220px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5730.21px;text-rendering:optimizeLegibility;white-space:nowrap">five </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6060.32px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6820.75px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7250.98px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7661.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7861.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8161.44px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8721.65px;white-space:nowrap">date </div><div style="font-family:Arial, 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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4573.92px;white-space:nowrap">Not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4814.54px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5077.12px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5223.06px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5441.97px;white-space:nowrap">semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6149.47px;white-space:nowrap">report</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:0px;letter-spacing:-3.33px;white-space:nowrap">TERMS </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:724.14px;letter-spacing:-3px;white-space:nowrap">AND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:1197.01px;letter-spacing:-3.64px;white-space:nowrap">CONDITIONS </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:2464.14px;letter-spacing:-2.67px;white-space:nowrap">OF </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:2785.45px;letter-spacing:-3.56px;white-space:nowrap">DIVIDEND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:3760.68px;letter-spacing:-3.69px;white-space:nowrap">REINVESTMENT </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:5323.62px;letter-spacing:-3px;white-space:nowrap">AND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:5796.48px;letter-spacing:-3.2px;white-space:nowrap">CASH </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:6398.75px;letter-spacing:-3.56px;white-space:nowrap">PURCHASE </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:7540.68px;letter-spacing:-4px;white-space:nowrap">PLAN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:489.02px;left:8110.37px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:720.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:930.59px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1851.06px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2091.18px;white-space:nowrap">herein </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2641.55px;white-space:nowrap">provided, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3432.04px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3642.1px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4012.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4312.44px;white-space:nowrap">timing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:200.13px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:540.35px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1420.84px;letter-spacing:-0.33px;white-space:nowrap">effected. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2148.13px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2544.96px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2965.17px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3405.5px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3655.72px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:240.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:440.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:740.48px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1220.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1420.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1721.16px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2181.45px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2771.72px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3512.2px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3772.27px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">accounts. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:820.46px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1140.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1440.7px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2231.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2431.32px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3311.81px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3562.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3862.27px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:640.2px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1037.02px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1427.08px;white-space:nowrap">aggregate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2287.79px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3168.28px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3538.39px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4028.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4228.86px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">participants, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1020.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1370.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1671.06px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2371.55px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2811.71px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3632.17px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4232.55px;white-space:nowrap">fees) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:200.13px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:430.22px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1020.5px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1911.09px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2141.28px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2538.11px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2958.31px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3208.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3508.77px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3948.93px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:4259.09px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">allocable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:760.52px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:960.64px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1190.74px;white-space:nowrap">participants.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">7. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:190.2px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:587.02px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:886.99px;white-space:nowrap">hold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1277.31px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1867.59px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2608.07px;white-space:nowrap">pursuant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3358.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3558.69px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3888.81px;white-space:nowrap">Plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">together </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:710.51px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1080.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1380.85px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1971.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2171.25px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2631.53px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3602.02px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">pursuant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:750.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:950.63px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1280.74px;white-space:nowrap">Plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1741.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1931.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2161.14px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2661.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2871.47px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3221.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3421.85px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3651.86px;white-space:nowrap">nominee. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:4432.41px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:299.97px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:950.19px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1150.31px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2120.8px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2461.03px;white-space:nowrap">proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2951.19px;white-space:nowrap">solicitation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3841.61px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:350.33px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:650.3px;white-space:nowrap">vote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1040.54px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1380.76px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1971.04px;white-space:nowrap">so </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2211.15px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2601.47px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2861.54px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3832.03px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4212.25px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:980.6px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1350.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1650.94px;white-space:nowrap">proxies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2281.2px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3001.64px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3241.76px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4212.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4412.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:510.29px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:990.62px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1570.78px;white-space:nowrap">request, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2261.25px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2658.08px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2958.05px;white-space:nowrap">deliver </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3538.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3738.43px;white-space:nowrap">participants, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:620.33px;white-space:nowrap">charge, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1270.72px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1420.84px;text-rendering:optimizeLegibility;white-space:nowrap">certificate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2241.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2451.18px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3361.46px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3621.53px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3851.63px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4061.69px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4211.81px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:500.36px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:780.47px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1370.74px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1761.06px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1991.25px;letter-spacing:-4.99px;white-space:nowrap">AST.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">8. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:190.2px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:587.02px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:886.99px;text-rendering:optimizeLegibility;white-space:nowrap">confirm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1527.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1727.23px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2697.71px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3138.05px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:4038.57px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:260.07px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:510.29px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1190.74px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1430.86px;white-space:nowrap">soon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1871.19px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2111.31px;white-space:nowrap">practicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3031.79px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3332.02px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3632.26px;white-space:nowrap">later </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4032.42px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">ten </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:300.23px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1060.66px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1490.89px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2201.31px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2601.65px;white-space:nowrap">thereof. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3252.13px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3648.96px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3948.93px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4389.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:970.49px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1120.61px;white-space:nowrap">detailed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1801.14px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2481.59px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3322px;white-space:nowrap">showing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4032.42px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:810.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1160.86px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2221.35px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2621.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2821.82px;white-space:nowrap">investment, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3792.22px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:740.48px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1090.81px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1530.97px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1841.13px;white-space:nowrap">share, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2391.42px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2741.75px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3131.98px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3722.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3922.38px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:560.3px;white-space:nowrap">account. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1280.83px;white-space:nowrap">Although </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2041.44px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3011.92px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3401.98px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3811.99px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:4202.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:390.06px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:830.39px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1080.62px;white-space:nowrap">undivided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1901.25px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2681.63px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3321.91px;white-space:nowrap">(computed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:4222.35px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:460.28px;white-space:nowrap">decimal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1130.54px;white-space:nowrap">places) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1760.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1950.91px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2101.03px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2601.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2801.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3101.66px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3611.95px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3862.18px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:260.07px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:410.19px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1190.57px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1690.84px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1990.81px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2241.04px;white-space:nowrap">issued. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2861.37px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3661.7px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:350.33px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1360.81px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1611.04px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2391.42px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2981.69px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3281.66px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3531.88px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4222.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:880.49px;white-space:nowrap">accounts. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1700.95px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2201.31px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2691.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2891.78px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3832.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:4032.33px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:680.45px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1190.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1491.06px;white-space:nowrap">Plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1941.42px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2338.24px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2638.21px;white-space:nowrap">adjust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3168.54px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3428.61px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3768.84px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">undivided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:820.63px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1601.02px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2241.3px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2431.41px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2861.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3061.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3361.99px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3962.11px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4402.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4602.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:587.02px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1177.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1427.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1727.75px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2128.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2328.22px;white-space:nowrap">termination.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:0px;white-space:nowrap">9. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:190.2px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:550.37px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1050.64px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1861.17px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2071.23px;white-space:nowrap">split </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2441.34px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3031.61px;white-space:nowrap">distributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3912.1px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4152.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:460.28px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:710.51px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1300.78px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1691.1px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1921.29px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2318.12px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2578.18px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3548.67px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3848.64px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:4098.87px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:200.13px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1080.62px;white-space:nowrap">accounts. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1901.07px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2101.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2401.44px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2891.78px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3242.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3542.26px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:4002.54px;white-space:nowrap">makes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:0px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:760.52px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:960.64px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1190.65px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2281.29px;white-space:nowrap">transferable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3281.84px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3772px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3972.13px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:0px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:820.63px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1280.92px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1871.19px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2081.25px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2541.53px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3391.88px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3788.7px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:4088.67px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:4408.77px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:0px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:490.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:840.5px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1320.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1621.05px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2411.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2611.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2911.9px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3292.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3492.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3792.48px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:200.13px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1020.76px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1481.04px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2071.32px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2331.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2631.62px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3512.11px;white-space:nowrap">accounts. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:4329.32px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:590.27px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:980.6px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:1240.66px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2211.15px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2721.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3021.77px;white-space:nowrap">Planwill </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3682px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3932.23px;white-space:nowrap">added </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:200.13px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1080.7px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1670.98px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2061.3px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2301.42px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3271.9px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3462.01px;white-space:nowrap">calculating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:4362.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:660.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:860.45px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1350.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1550.74px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1800.97px;white-space:nowrap">issued.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:0px;white-space:nowrap">10. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:290.3px;letter-spacing:-0.54px;white-space:nowrap">AST&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:817.12px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:1437.28px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:2037.66px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:2297.72px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:2868.05px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:3348.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:3558.43px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:4188.69px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:0px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:880.49px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:1180.46px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:1430.68px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:1821.01px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2061.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2361.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2821.64px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:3301.96px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:3892.24px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:4202.4px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:540.35px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1000.63px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1210.69px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2101.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2351.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2651.75px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3102.19px;white-space:nowrap">market. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3742.38px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:4139.21px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">deduct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5810.45px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5960.57px;white-space:nowrap">$5.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6461.02px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7081.17px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7681.55px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8091.56px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8531.89px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9312.28px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">payment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6010.4px;white-space:nowrap">Participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7000.84px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7300.81px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7551.04px;white-space:nowrap">charged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8251.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8401.64px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8711.81px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9071.98px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9572.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5820.38px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6210.62px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6460.84px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6690.94px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7141.38px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7741.49px;white-space:nowrap">purchases.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5220px;letter-spacing:-3.34px;white-space:nowrap">11. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5506.87px;white-space:nowrap">Participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6497.31px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6887.37px;white-space:nowrap">withdraw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7647.63px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8237.9px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8647.91px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:9078.13px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5220px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5900.45px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6110.51px;white-space:nowrap">terminate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6910.84px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7311.01px;white-space:nowrap">participation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8331.59px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8891.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9192.22px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9602.49px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">notifying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5930.51px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6327.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6517.44px;white-space:nowrap">writing. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7137.6px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7597.88px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8498.23px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8708.29px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5519.97px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5770.2px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6487.29px;white-space:nowrap">immediately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7497.6px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7637.61px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8167.94px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8347.94px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9078.31px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9308.5px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5520.23px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5890.34px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6290.68px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6620.8px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7051.03px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7461.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7661.25px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8001.47px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8722px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8932.06px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5780.21px;white-space:nowrap">date; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6230.57px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7050.94px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7481.16px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8381.51px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8591.57px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9532px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5470.22px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6187.32px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6597.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6897.74px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7818.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8018.26px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8358.49px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8968.71px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5430.06px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6350.54px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6560.6px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7340.98px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7771.2px;white-space:nowrap">payment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8558.35px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8918.53px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9328.8px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5470.22px;white-space:nowrap">terminated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6370.66px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6600.85px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6997.68px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7207.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7507.97px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7968.25px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8418.69px;white-space:nowrap">90 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8668.92px;letter-spacing:-1.11px;white-space:nowrap">days&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9132.45px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5410.11px;white-space:nowrap">writing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5980.25px;white-space:nowrap">mailed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6560.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6760.63px;white-space:nowrap">participants. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7781.13px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8261.46px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8601.68px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9502.03px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">termination, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6200.51px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6597.33px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6897.3px;white-space:nowrap">cause </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7427.64px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7577.75px;text-rendering:optimizeLegibility;white-space:nowrap">certificate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8398.04px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8608.1px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9518.38px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9778.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5500.11px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6090.38px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6480.7px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6710.89px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7107.71px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7367.78px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8338.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8688.6px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9118.83px;white-space:nowrap">adjustment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5480.07px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5820.29px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6600.67px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7190.95px;white-space:nowrap">(valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7831.32px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8031.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8331.68px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8931.8px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9412.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5520.23px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6110.51px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6310.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6610.87px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7000.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7201.05px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8101.41px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8311.46px;white-space:nowrap">termination) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9311.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9511.96px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">delivered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6000.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6200.6px;white-space:nowrap">participants, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7221.09px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7591.2px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7931.43px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8531.81px;white-space:nowrap">fees. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8962.12px;letter-spacing:-0.89px;white-space:nowrap">Alternatively, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5220px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5370.12px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6250.61px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6640.66px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7070.89px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7311.01px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7891.17px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8421.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8611.7px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9008.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9208.65px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5220px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5616.83px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5936.92px;white-space:nowrap">part </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6297.1px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6507.16px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6737.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6937.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7237.62px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7827.89px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8218.21px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8478.28px;white-space:nowrap">him </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8818.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9168.66px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9368.79px;white-space:nowrap">remit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5520.23px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6310.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6510.85px;white-space:nowrap">him. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6890.98px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7287.8px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7467.8px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8358.4px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8558.53px;white-space:nowrap">deduct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9148.97px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9299.09px;white-space:nowrap">$15.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5220px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5840.16px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6440.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6790.87px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6940.99px;white-space:nowrap">$0.12 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7441.44px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7751.6px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8251.87px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8852.26px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:9152.49px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:9412.56px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5220px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6150.5px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6560.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6860.74px;white-space:nowrap">proceeds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7701.24px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7851.27px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8001.39px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8881.87px;white-space:nowrap">disposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9642.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5220px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5450.1px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6040.37px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6890.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7080.91px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7361.02px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7861.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8111.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8411.75px;white-space:nowrap">books </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8942.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9142.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9442.44px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5220px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5616.83px;letter-spacing:-2.67px;white-space:nowrap">may, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6043.54px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6243.66px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6473.67px;white-space:nowrap">option, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7064.12px;white-space:nowrap">terminate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7864.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8164.69px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9171.91px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9852.36px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5220px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6070.1px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6479.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6779.69px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7659.84px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8349.9px;white-space:nowrap">he </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8599.79px;white-space:nowrap">wishes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9199.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9399.46px;white-space:nowrap">continue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5220px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5500.11px;white-space:nowrap">participation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6520.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6710.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7011.04px;white-space:nowrap">Plan.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5220px;white-space:nowrap">12. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5516.98px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6067.27px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6567.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6917.61px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7778.14px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8168.2px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8418.43px;white-space:nowrap">amended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:9219.02px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5220px;white-space:nowrap">supplemented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6400.81px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6631px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7027.82px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7237.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7538.12px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7998.4px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8198.53px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8538.75px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8928.81px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9138.87px;white-space:nowrap">times, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5220px;white-space:nowrap">except </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5800.34px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6280.66px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7151.04px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7361.1px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8321.75px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8521.87px;white-space:nowrap">comply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9142.03px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5220px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6080.62px;white-space:nowrap">law </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6400.72px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6610.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6911.02px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7351.17px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7561.23px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8211.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8411.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8711.89px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9111.97px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5570.33px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6420.94px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7461.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7671.18px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8011.41px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8471.69px;white-space:nowrap">regulatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:9322.12px;letter-spacing:-1.21px;white-space:nowrap">authority, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5600.21px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5840.33px;white-space:nowrap">mailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6460.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6660.7px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7631.19px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8591.84px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9172px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5420.13px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5850.35px;white-space:nowrap">90 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6100.58px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6530.8px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6940.9px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7141.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7441.26px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8158.36px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8558.7px;white-space:nowrap">thereof. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9215.86px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">amendment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6220.55px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6430.61px;white-space:nowrap">supplement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7411.2px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7831.41px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8081.63px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8782.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8982.25px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9232.47px;white-space:nowrap">accepted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5460.12px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6430.61px;white-space:nowrap">unless, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7050.94px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7461.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7661.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7961.4px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8678.5px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:9078.84px;white-space:nowrap">thereof, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5220px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5616.83px;white-space:nowrap">receives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6337.09px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6917.26px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7447.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7647.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7947.95px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8888.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9088.51px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9238.62px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5900.45px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6410.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6711.06px;white-space:nowrap">Plan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7161.42px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7521.59px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7951.82px;white-space:nowrap">amendment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8952.36px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:9342.42px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5470.22px;white-space:nowrap">appointment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6510.94px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6741.12px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7137.95px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7328.06px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7558.07px;white-space:nowrap">place </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8038.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8388.72px;white-space:nowrap">stead </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8879.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9079.19px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9229.31px;white-space:nowrap">successor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5620.34px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6730.66px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7241.04px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7731.39px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8231.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8581.73px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9492.28px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5500.11px;white-space:nowrap">power </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6040.37px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6390.7px;white-space:nowrap">authority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7131.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7331.22px;white-space:nowrap">perform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8001.39px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8231.48px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8441.54px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8781.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8981.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9282.13px;white-space:nowrap">acts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9662.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5470.22px;white-space:nowrap">performed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6340.61px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6570.79px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6967.62px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7478px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7968.34px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8468.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8818.68px;white-space:nowrap">conditions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5220px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5700.32px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6040.55px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6470.77px;white-space:nowrap">appointment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7511.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7711.61px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7861.73px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8262.07px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9372.39px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5520.23px;white-space:nowrap">purpose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6220.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6420.85px;white-space:nowrap">receiving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7191.21px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8001.74px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8352.07px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9412.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5680.28px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5980.25px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6230.48px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7121.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7321.2px;white-space:nowrap">pay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7661.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7861.55px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8291.78px;white-space:nowrap">successor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:9152.05px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5220px;letter-spacing:-0.66px;white-space:nowrap">Administrator, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6370.4px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6630.47px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6780.59px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7787.81px;white-space:nowrap">account, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8518.27px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8748.37px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:9558.9px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5220px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6230.48px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6911.02px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7161.24px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7621.52px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8211.8px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8602.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8792.23px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8942.34px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:240.63px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:503.2px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:649.14px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:868.05px;white-space:nowrap">semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1575.55px;white-space:nowrap">report</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:0px;letter-spacing:-3.33px;white-space:nowrap">TERMS </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:724.14px;letter-spacing:-3px;white-space:nowrap">AND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:1197.01px;letter-spacing:-3.64px;white-space:nowrap">CONDITIONS </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:2464.14px;letter-spacing:-2.67px;white-space:nowrap">OF </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:2785.45px;letter-spacing:-3.56px;white-space:nowrap">DIVIDEND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:3760.68px;letter-spacing:-3.69px;white-space:nowrap">REINVESTMENT </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:5323.62px;letter-spacing:-3px;white-space:nowrap">AND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:5796.48px;letter-spacing:-3.2px;white-space:nowrap">CASH </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:6398.75px;letter-spacing:-3.56px;white-space:nowrap">PURCHASE </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:7540.68px;letter-spacing:-4px;white-space:nowrap">PLAN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:489.02px;left:8110.37px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:500.27px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:710.33px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1220.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1520.95px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1931.22px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2191.29px;white-space:nowrap">retention </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2941.79px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3151.85px;white-space:nowrap">application </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4062.48px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4302.6px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">successor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:860.27px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1260.62px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2370.94px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2611.05px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3351.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3541.64px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4031.98px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4531.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">conditions.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">13. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:290.3px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:687.13px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1107.33px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1307.46px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1537.56px;white-space:nowrap">times </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2017.62px;white-space:nowrap">act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2307.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2497.85px;white-space:nowrap">good </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2948.29px;white-space:nowrap">faith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3338.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3688.86px;white-space:nowrap">agree </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:4199.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:340.22px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:570.23px;white-space:nowrap">best </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:960.47px;letter-spacing:-0.41px;white-space:nowrap">efforts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1507.41px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2017.62px;white-space:nowrap">reasonable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2958.31px;white-space:nowrap">limits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3418.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3618.37px;white-space:nowrap">ensure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4218.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:0px;white-space:nowrap">accuracy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:770.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:970.4px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1200.5px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1910.65px;white-space:nowrap">performed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2781.04px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3291.42px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3611.6px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:350.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:550.46px;white-space:nowrap">comply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1170.62px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1540.72px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2401.35px;letter-spacing:-1.99px;white-space:nowrap">law, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2761.52px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3061.76px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3481.96px;white-space:nowrap">assume </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:4162.24px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1090.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1440.79px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1861px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2161.23px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2411.46px;white-space:nowrap">liable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2881.76px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3141.83px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3511.93px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3721.99px;white-space:nowrap">damage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:4422.48px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:200.13px;white-space:nowrap">errors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:720.18px;white-space:nowrap">unless </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1290.5px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1720.72px;white-space:nowrap">error </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2150.77px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2330.77px;white-space:nowrap">caused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2961.21px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3191.4px;letter-spacing:-0.54px;white-space:nowrap">AST&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3718.21px;white-space:nowrap">negligence, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">bad </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:350.33px;white-space:nowrap">faith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:740.57px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:950.63px;white-space:nowrap">willful </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1440.7px;white-space:nowrap">misconduct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2401.08px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2611.14px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2961.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3161.51px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3391.52px;white-space:nowrap">employees.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">14. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:290.3px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:650.48px;white-space:nowrap">notice, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1230.82px;white-space:nowrap">instruction, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2151.21px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2801.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3011.66px;white-space:nowrap">election </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3682.09px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4192.29px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4432.41px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:0px;white-space:nowrap">provision </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:770.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:970.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1270.72px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1681px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1861px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2571.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2781.47px;white-space:nowrap">permitted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3581.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3781.93px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4032.16px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4512.48px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:0px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:500.27px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:740.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1040.63px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1921.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2111.31px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2508.13px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2928.34px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3178.56px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3368.67px;white-space:nowrap">writing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3938.82px;white-space:nowrap">addressed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:190.2px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1000.46px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1497.39px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2210.89px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2557.97px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3011.31px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3831.68px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:4261.9px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:0px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:360.18px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:760.52px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1153.83px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1684.07px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2344.48px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2751.33px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3204.93px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3501.74px;white-space:nowrap">10269-0560, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:4562.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.47px;white-space:nowrap">www.astfinancial.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1770.64px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1980.7px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2410.93px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2871.21px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3561.59px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3791.78px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:4188.6px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:0px;white-space:nowrap">furnish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:590.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:790.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1090.63px;white-space:nowrap">participant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2021.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2371.46px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2791.67px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3232px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3682.44px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4382.93px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4583.06px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:480.32px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:690.38px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1190.65px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1670.98px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2401.35px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2631.53px;letter-spacing:-4.99px;white-space:nowrap">AST.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:0px;white-space:nowrap">15. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:290.3px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:650.48px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:1180.81px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:1390.87px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:1851.15px;white-space:nowrap">communication </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3111.68px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3621.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3862px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:0px;white-space:nowrap">provision </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:770.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:970.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:1270.72px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:1681px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:1861px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:2571.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:2771.54px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:3021.77px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:3502.09px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:3732.28px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:4129.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:4329.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:880.49px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:1300.69px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:1550.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:1741.03px;white-space:nowrap">writing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:2311.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:2661.5px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:3081.71px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:3331.93px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:4032.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:4232.55px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:0px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:450.44px;text-rendering:optimizeLegibility;white-space:nowrap">sufficiently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:1340.77px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:1821.09px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:2081.16px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:2311.26px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3101.75px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3341.87px;white-space:nowrap">being </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3832.29px;white-space:nowrap">deposited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:0px;white-space:nowrap">postage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:690.56px;white-space:nowrap">prepaid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:1341.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:1531.14px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:1681.26px;white-space:nowrap">post </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:2071.49px;text-rendering:optimizeLegibility;white-space:nowrap">office </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:2551.73px;white-space:nowrap">letter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:3001.9px;white-space:nowrap">box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:3342.13px;white-space:nowrap">addressed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:4232.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:4432.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:880.49px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:1080.62px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:1360.72px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:1570.78px;white-space:nowrap">her </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:1880.95px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:2571.33px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:2811.45px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:2951.46px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:3371.66px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:3701.78px;white-space:nowrap">appear </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:4312.27px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:0px;letter-spacing:-0.54px;white-space:nowrap">AST&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:526.82px;white-space:nowrap">records. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1223.79px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1583.96px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:2464.45px;white-space:nowrap">agrees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3064.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3264.96px;white-space:nowrap">notify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3735.26px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:4132.09px;white-space:nowrap">promptly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:200.13px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:540.35px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1180.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1381.03px;white-space:nowrap">address.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:0px;white-space:nowrap">16. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:296.98px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:847.27px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:1347.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:1697.61px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:2558.14px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:2978.35px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:3228.57px;white-space:nowrap">governed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:4029.17px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:4269.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:0px;white-space:nowrap">construed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:840.5px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:1030.61px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:2011.2px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:2381.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:2681.54px;white-space:nowrap">laws </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:3091.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:3291.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:3592px;white-space:nowrap">State </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:4062.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:4262.43px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:0px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:403.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:753.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:1054.16px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:1494.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:1844.65px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:2775.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:2975.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:3275.6px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:3675.67px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:4516px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:0px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:850.61px;white-space:nowrap">Commission, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:1940.8px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:2180.92px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:2571.15px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:2961.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:3211.44px;white-space:nowrap">amended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:4012.03px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:4422.04px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:200.13px;white-space:nowrap">time.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:799.11px;white-space:nowrap">TLGIM </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:1199.13px;white-space:nowrap">S </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:1312.51px;white-space:nowrap">08/21</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:0px;white-space:nowrap">&#169; </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:121.76px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:422.05px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:880.02px;letter-spacing:-1.33px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:1467.01px;white-space:nowrap">Investments. </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:2174px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:2340.7px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:2667.48px;white-space:nowrap">reserved.</div></div>
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)"></div>
					</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:0px;white-space:nowrap">Investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:780.29px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:1360.72px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:1610.95px;white-space:nowrap">aware </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:2151.21px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:2501.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:2801.69px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:3282.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:3482.14px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:4492.53px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:4992.8px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:5252.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:5553.11px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:6013.39px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:6403.45px;white-space:nowrap">go </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:6653.67px;white-space:nowrap">down </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:7133.99px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:7374.11px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:7734.2px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:7974.32px;white-space:nowrap">up. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:8274.55px;white-space:nowrap">Like </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:8654.77px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:8994.99px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8246.28px;left:9915.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:0px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:860.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:1160.51px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:1640.83px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:1840.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:2141.19px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:2728.21px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:3418.59px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:3718.56px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:3968.79px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:4589.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:4789.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:5089.48px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:5419.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:5619.55px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:5989.66px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:6399.67px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:7049.79px;letter-spacing:-1.34px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:7826.66px;white-space:nowrap">economic, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:8697.04px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:9347.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8466.28px;left:9697.68px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:0px;white-space:nowrap">factors. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:636.94px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:997.12px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:1457.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:1807.73px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:2037.74px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:2808.02px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:3118.18px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:3418.42px;white-space:nowrap">protected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:4218.93px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:4628.94px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:5059.16px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:5619.38px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:5859.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:6159.73px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:7080.12px;letter-spacing:-1.1px;white-space:nowrap">manager. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:7877.37px;white-space:nowrap">Therefore, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:8757.77px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8686.28px;left:9528.05px;white-space:nowrap">who </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:0px;white-space:nowrap">cannot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:590.45px;white-space:nowrap">accept </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:1170.79px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:1500.91px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:1830.85px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:2411.28px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:2711.51px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:3231.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:3421.85px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:4012.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:4212.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8906.28px;left:4512.48px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:0px;letter-spacing:-6.65px;white-space:nowrap">To </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:240.12px;white-space:nowrap">help </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:630.44px;white-space:nowrap">ensure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:1230.82px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:1510.93px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:2151.3px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:2491.52px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:2861.63px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:3431.95px;white-space:nowrap">service, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:4102.12px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:4332.22px;white-space:nowrap">calls </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:4742.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:4942.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:5292.77px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:5702.78px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:6012.95px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:6633.11px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:7133.38px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:7443.54px;white-space:nowrap">monitored </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:8293.97px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9306.28px;left:8854.37px;white-space:nowrap">recorded.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10032.46px;left:3210px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10032.46px;left:4152.5px;white-space:nowrap">Report</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10235.35px;left:3210px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10235.35px;left:4051.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10235.35px;left:4593.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10235.35px;left:5198.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10612px;left:3210px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10612px;left:4099.14px;white-space:nowrap">Manager</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10612px;left:5350px;letter-spacing:-0.98px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10612px;left:6019.92px;white-space:nowrap">Agent</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10612px;left:8630px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10612px;left:9065.39px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:3210px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:3814.69px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:4517.11px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:5350px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:6070.23px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:6511.95px;letter-spacing:-0.66px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:7146.17px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:7294.45px;letter-spacing:-0.99px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:7697.42px;white-space:nowrap">Co., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:8035.31px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:5350px;white-space:nowrap">6201 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:5750.39px;white-space:nowrap">15th </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:6097.42px;letter-spacing:-0.48px;white-space:nowrap">Avenue</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11198.88px;left:5350px;white-space:nowrap">Brooklyn, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11198.88px;left:6061.41px;letter-spacing:-0.96px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11198.88px;left:6325.23px;letter-spacing:-1.32px;white-space:nowrap">11219</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11390.88px;left:5350px;letter-spacing:-3.55px;white-space:nowrap">Toll </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11390.88px;left:5634.53px;white-space:nowrap">Free </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11390.88px;left:6007.97px;white-space:nowrap">Number: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11390.88px;left:6665.94px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11390.88px;left:7083.91px;white-space:nowrap">416-5585</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:5350px;white-space:nowrap">Hearing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:5954.77px;white-space:nowrap">Impaired </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:6621.72px;white-space:nowrap">Number: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:7279.69px;white-space:nowrap">(866) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:7697.66px;white-space:nowrap">703-9077</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:5350px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:6275.08px;white-space:nowrap">Phone </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:6782.19px;white-space:nowrap">Number: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;left:5350px;white-space:nowrap">(718) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;left:5767.97px;white-space:nowrap">921-8124</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12158.88px;left:5350px;text-rendering:optimizeLegibility;letter-spacing:-0.44px;white-space:nowrap">www.astfinancial.com</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:8630px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:9047.97px;letter-spacing:-1.19px;white-space:nowrap">DIAL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:9442.19px;white-space:nowrap">BEN</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10818.09px;left:9771.17px;white-space:nowrap">&#174;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10814.88px;left:9884.36px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:8630px;white-space:nowrap">342-5236</div></div>
		</div>


</div></div><div style="position: relative;page: WordSection1">

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 2. Code of Ethics.&#160; </div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -27.0pt;margin-right: 0in;margin-left: 27.0pt;margin-top: 0in;margin-bottom: .0001pt">(a) The
Registrant has adopted a code of ethics that applies to its principal executive
officers and principal financial and accounting officer.</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">(c) N/A</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">(d) N/A</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -22.5pt;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt">(f)<b> </b>Pursuant
to Item 13(a)(1), the Registrant is attaching as an exhibit a copy of its code
of ethics that applies to its principal executive officers and principal
financial and accounting officer.</div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 3. Audit Committee
Financial Expert. </div></b></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -40.5pt;margin-right: 0in;margin-left: 40.5pt;margin-top: 0in;margin-bottom: .0001pt">(a)(1) The
Registrant has an audit committee financial expert serving on its audit
committee.</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -40.5pt;margin-right: 0in;margin-left: 40.5pt;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -27.0pt;margin-right: 0in;margin-left: 45.0pt;margin-top: 0in;margin-bottom: .0001pt">(2) The
audit committee financial expert is Mary C. Choksi and she is "independent"
as defined under the relevant Securities and Exchange Commission Rules and
Releases.</div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-size: 10.0pt;display: inline;">Item 4.</div></div><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"> Principal Accountant Fees
and Services. &#160;N/A</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Item
5. Audit Committee</div></strong><div style="font-size: 10.0pt;display: inline;"> <strong><div style="font-family: &quot;Courier New&quot;;display: inline;">of Listed Registrants</div></strong></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-family: &quot;Courier New&quot;;font-weight: normal;display: inline;">Members of the Audit Committee are:&#160; Mary C. Choksi, J.
Michael Luttig and Constantine D. Tseretopoulos.</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Item
6. Schedule of Investments.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div></strong><b><div style="font-size: 10.0pt;display: inline;">N/A</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Item
7</div></strong><div style="font-size: 10.0pt;display: inline;">. <b>Disclosure of Proxy Voting
Policies and Procedures for Closed-End Management Investment Companies. </b></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">The board of trustees of the
Fund has delegated the authority to vote proxies related to the portfolio securities
held by the Fund to the Fund&#8217;s investment manager, Franklin Advisers, Inc., in
accordance with the Proxy Voting Policies and Procedures (Policies) adopted by
the investment manager.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">The investment manager has delegated its administrative duties with
respect to the voting of proxies for securities to the Proxy Group within
Franklin Templeton Companies, LLC (Proxy Group), an affiliate and wholly owned
subsidiary of Franklin Resources, Inc. All proxies received by the Proxy Group
will be voted based upon the investment manager&#8217;s instructions and/or policies.
The investment manager votes proxies solely in the best interests of the Fund
and its shareholders.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">To assist it in analyzing proxies of equity securities, the investment
manager subscribes to Institutional Shareholder Services, Inc. (ISS), an
unaffiliated third-party corporate governance research service that provides
in-depth analyses of shareholder meeting agendas, vote recommendations, vote
execution services, ballot reconciliation services, recordkeeping and vote disclosure
services. In addition, the investment manager subscribes to Glass, Lewis &amp;
Co., LLC (Glass Lewis), an unaffiliated third-party analytical research firm,
to receive analyses and vote recommendations on the shareholder meetings of
publicly held U.S. companies, as well as a limited subscription to its
international research. Although analyses provided by ISS, Glass Lewis, and/or
another independent third party proxy service provider (each a "Proxy
Service") are thoroughly reviewed and considered in making a final voting
decision, the investment manager does not consider recommendations from a Proxy
Service or any third party to be determinative of the investment manager's
ultimate decision. Rather, the investment manager exercises its independent
judgment in making voting decisions. For most proxy proposals, the investment
manager&#8217;s evaluation will result in the same position being taken for all
Funds. In some cases, however, the evaluation may result in a Fund or
investment manager voting differently, depending upon the nature and objective
of the Fund, the composition of its portfolio, whether the investment manager
has adopted a custom voting policy, and other factors. As a matter of policy,
the officers, directors/trustees and employees of the investment manager and
the Proxy Group will not be influenced by outside sources whose interests
conflict with the interests of the Fund and its shareholders. Efforts are made
to resolve all conflicts in the best interests of the investment manager&#8217;s
clients. Material conflicts of interest are identified by the Proxy Group based
upon analyses of client, distributor, broker-dealer and vendor lists, information
periodically gathered from directors and officers, and information derived from
other sources, including public filings. In situations where a material
conflict of interest is identified, the Proxy Group may vote consistent with
the voting recommendation of a Proxy Service; or send the proxy directly to the
Fund's board or a committee of the board with the investment manager's
recommendation regarding the vote for approval.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Where a material conflict of interest has been identified, but the items
on which the investment manager&#8217;s vote recommendations differ from a Proxy
Service and relate specifically to (1) shareholder proposals regarding social
or environmental issues, (2) &#8220;Other Business&#8221; without describing the matters
that might be considered, or (3) items the investment manager wishes to vote in
opposition to the recommendations of an issuer&#8217;s management, the Proxy Group
may defer to the vote recommendations of the investment manager rather than
sending the proxy directly to the Fund's board or a board committee for
approval.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">To avoid certain potential conflicts of interest, the investment manager
will employ echo voting or pass-through voting, if possible, in the following
instances: (1) when the Fund invests in an underlying fund in reliance on any
one of Sections 12(d)(1)(F) or (G) of the 1940 Act, the rules thereunder, or
pursuant to a SEC exemptive order thereunder; (2) when the Fund invests
uninvested cash in affiliated money market funds pursuant to the rules under
the 1940 Act or any exemptive orders thereunder (&#8220;cash sweep arrangement&#8221;); or
(3) when required pursuant to the Fund&#8217;s governing documents or applicable law.
Echo voting means that the investment manager will vote the shares in the same
proportion as the vote of all other holders of the underlying fund's shares.
With respect to instances when a Franklin Templeton U.S. registered investment
company invests in an underlying fund in reliance on any one of Sections
12(d)(1)(F) or (G) of the 1940 Act, the rules thereunder, or pursuant to an SEC
exemptive order thereunder, and there are no other unaffiliated shareholders
also invested in the underlying fund, the investment manager will vote in
accordance with the recommendation of such investment company&#8217;s board of
trustees or directors. In addition, to avoid certain potential conflicts of
interest, and where required under a fund&#8217;s governing documents or applicable
law, the investment manager will employ pass-through voting when a Franklin
Templeton U.S. registered investment company invests in an underlying fund in
reliance on Section 12(d)(1)(E) of the 1940 Act, the rules thereunder, or
pursuant to an SEC exemptive order thereunder. In &#8220;pass-through voting,&#8221; a
feeder fund will solicit voting instructions from its shareholders as to how to
vote on the master fund&#8217;s proposals. If a Franklin Templeton investment company
becomes a holder of more than 25% of the shares on a non-affiliated fund, as a
result of a decrease in the outstanding shares of the non-affiliated fund, then
the investment manager will vote the shares in the same proportion as the vote
of all other holders of the non-affiliated fund.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">The recommendation of management on any issue is a factor that the
investment manager considers in determining how proxies should be voted.
However, the investment manager does not consider recommendations from
management to be determinative of the investment manager&#8217;s ultimate decision.
As a matter of practice, the votes with respect to most issues are cast in
accordance with the position of the company's management. Each issue, however,
is considered on its own merits, and the investment manager will not support
the position of the company's management in any situation where it deems that
the ratification of management&#8217;s position would adversely affect the investment
merits of owning that company&#8217;s shares.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Engagement with issuers</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. The investment manager believes that
engagement with issuers is important to good corporate governance and to assist
in making proxy voting decisions. The investment manager may engage with
issuers to discuss specific ballot items to be voted on in advance of an annual
or special meeting to obtain further information or clarification on the
proposals. The investment manager may also engage with management on a range of
environmental, social or corporate governance issues throughout the year.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Investment manager&#8217;s proxy voting policies and principles</div></b><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;"> &#160;The
investment manager has adopted general proxy voting guidelines, which are
summarized below. These guidelines are not an exhaustive list of all the issues
that may arise and the investment manager cannot anticipate all future
situations. In all cases, each proxy and proposal (including both management
and shareholder proposals) will be considered based on the relevant facts and
circumstances on a case-by-case basis.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Board of directors</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. The investment manager supports an independent, diverse
board of directors, and prefers that key committees such as audit, nominating,
and compensation committees be comprised of independent directors. The
investment manager supports boards with strong risk management oversight. The
investment manager will generally vote against management efforts to classify a
board and will generally support proposals to declassify the board of
directors. The investment manager will consider withholding votes from
directors who have attended less than 75% of meetings without a valid reason.
While generally in favor of separating Chairman and CEO positions, the
investment manager will review this issue as well as proposals to restore or
provide for cumulative voting on a case-by-case basis, taking into
consideration factors such as the company&#8217;s corporate governance guidelines or
provisions and performance. The investment manager generally will support
non-binding shareholder proposals to require a majority vote standard for the
election of directors; however, if these proposals are binding, the investment
manager will give careful review on a case-by-case basis of the potential ramifications
of such implementation.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">In the event of a contested election, the investment manager will review
a number of factors in making a decision including management&#8217;s track record,
the company&#8217;s financial performance, qualifications of candidates on both
slates, and the strategic plan of the dissidents and/or shareholder nominees.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Ratification of auditors of portfolio companies</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. The investment manager
will closely scrutinize the independence, role and performance of auditors. On
a case-by-case basis, the investment manager will examine proposals relating to
non-audit relationships and non-audit fees. The investment manager will also
consider, on a case-by-case basis, proposals to rotate auditors, and will vote
against the ratification of auditors when there is clear and compelling
evidence of a lack of independence, accounting irregularities or negligence.
The investment manager may also consider whether the ratification of auditors
has been approved by an appropriate audit committee that meets applicable
composition and independence requirements.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Management and director compensation</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. A company&#8217;s equity-based
compensation plan should be in alignment with the shareholders&#8217; long-term
interests. The investment manager believes that executive compensation should
be directly linked to the performance of the company. The investment manager
evaluates plans on a case-by-case basis by considering several factors to
determine whether the plan is fair and reasonable, including the ISS quantitative
model utilized to assess such plans and/or the Glass Lewis evaluation of the
plans. The investment manager will generally oppose plans that have the
potential to be excessively dilutive, and will almost always oppose plans that
are structured to allow the repricing of underwater options, or plans that have
an automatic share replenishment &#8220;evergreen&#8221; feature. The investment manager
will generally support employee stock option plans in which the purchase price
is at least 85% of fair market value, and when potential dilution is 10% or
less.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Severance compensation arrangements will be reviewed on a case-by-case
basis, although the investment manager will generally oppose &#8220;golden
parachutes&#8221; that are considered to be excessive. The investment manager will normally
support proposals that require a percentage of directors&#8217; compensation to be in
the form of common stock, as it aligns their interests with those of
shareholders.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">The investment manager will review non-binding say-on-pay proposals on a
case-by-case basis, and will generally vote in favor of such proposals unless
compensation is misaligned with performance and/or shareholders&#8217; interests, the
company has not provided reasonably clear disclosure regarding its compensation
practices, or there are concerns with the company&#8217;s remuneration practices.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Anti-takeover mechanisms and related issues</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. &#160;The investment
manager generally opposes anti-takeover measures since they tend to reduce
shareholder rights. However, as with all proxy issues, the investment manager
conducts an independent review of each anti-takeover proposal. On occasion, the
investment manager may vote with management when the research analyst has
concluded that the proposal is not onerous and would not harm the Fund or its
shareholders&#8217; interests. The investment manager generally supports proposals
that require shareholder rights&#8217; plans (often referred to as &#8220;poison pills&#8221;) to
be subject to a shareholder vote and will closely evaluate such plans on a
case-by-case basis to determine whether or not they warrant support. In
addition, the investment manager will generally vote against any proposal to
issue stock that has unequal or subordinate voting rights. The investment
manager generally opposes any supermajority voting requirements as well as the
payment of &#8220;greenmail.&#8221; The investment manager generally supports &#8220;fair price&#8221;
provisions and confidential voting. The investment manager will review a
company&#8217;s proposal to reincorporate to a different state or country on a
case-by-case basis taking into consideration financial benefits such as tax
treatment as well as comparing corporate governance provisions and general
business laws that may result from the change in domicile.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Changes to capital structure</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. The investment manager realizes that a
company's financing decisions have a significant impact on its shareholders,
particularly when they involve the issuance of additional shares of common or
preferred stock or the assumption of additional debt. The investment manager
will review, on a case-by-case basis, proposals by companies to increase
authorized shares and the purpose for the increase. The investment manager will
generally not vote in favor of dual-class capital structures to increase the
number of authorized shares where that class of stock would have superior
voting rights. The investment manager will generally vote in favor of the
issuance of preferred stock in cases where the company specifies the voting, dividend,
conversion and other rights of such stock and the terms of the preferred stock
issuance are deemed reasonable. The investment manager will review proposals
seeking preemptive rights on a case-by-case basis.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Mergers and corporate restructuring</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. Mergers and acquisitions will be
subject to careful review by the research analyst to determine whether they
would be beneficial to shareholders. The investment manager will analyze
various economic and strategic factors in making the final decision on a merger
or acquisition. Corporate restructuring proposals are also subject to a
thorough examination on a case-by-case basis.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Environmental and social issues</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. &#160;The investment manager considers
environmental and social issues alongside traditional financial measures to
provide a more comprehensive view of the value, risk and return potential of an
investment. Companies may face significant financial, legal and reputational
risks resulting from poor environmental and social practices, or negligent
oversight of environmental or social issues. Franklin Templeton&#8217;s &#8220;Responsible
Investment Principles and Policies&#8221; describes the investment manager&#8217;s approach
to consideration of environmental, social and governance issues within the
investment manager&#8217;s processes and ownership practices.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Shareholder proposals. </div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">The investment manager will review shareholder
proposals on a case-by-case basis and may support those that serve to enhance
value or mitigate risk, are drafted appropriately, and do not disrupt the
course of business or require a disproportionate or inappropriate use of
company resources.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">In the investment manager&#8217;s experience, those companies that are managed
well are often effective in dealing with the relevant environmental and social
issues that pertain to their business. As such, the investment manager will
generally give management discretion with regard to environmental and social
issues. However, in cases where management and the board have not demonstrated
adequate efforts to mitigate material environmental or social risks, have
engaged in inappropriate or illegal conduct, or have failed to adequately
address current or emergent risks that threaten shareholder value, the
investment manager may choose to support well-crafted shareholder proposals
that serve to promote or protect shareholder value. This may include seeking
appropriate disclosure regarding material environmental and social issues.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">The investment manager will consider supporting a shareholder proposal
seeking disclosure and greater board oversight of lobbying and corporate
political contributions if the investment manager believes that there is
evidence of inadequate oversight by the company&#8217;s board, if the company&#8217;s
current disclosure is significantly deficient, or if the disclosure is notably
lacking in comparison to the company&#8217;s peers.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Governance matters</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. The investment manager generally supports the right of
shareholders to call special meetings and act by written consent. However, the
investment manager will review such shareholder proposals on a case-by-case
basis in an effort to ensure that such proposals do not disrupt the course of
business or require a disproportionate or inappropriate use of company
resources.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Proxy access</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. In cases where the investment manager is satisfied
with company performance and the responsiveness of management, it will
generally vote against shareholder proxy access proposals not supported by
management. In other instances, the investment manager will consider such
proposals on a case-by-case basis, taking into account factors such as the size
of the company, ownership thresholds and holding periods, nomination limits
(e.g., number of candidates that can be nominated), the intentions of the
shareholder proponent, and shareholder base.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Global corporate governance</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. Many of the tenets discussed above are
applied to the investment manager's proxy voting decisions for international
investments. However, the investment manager must be flexible in these
worldwide markets. Principles of good corporate governance may vary by country,
given the constraints of a country&#8217;s laws and acceptable practices in the
markets. As a result, it is on occasion difficult to apply a consistent set of
governance practices to all issuers. As experienced money managers, the
investment manager's analysts are skilled in understanding the complexities of
the regions in which they specialize and are trained to analyze proxy issues
germane to their regions.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">The investment manager will generally attempt to process every proxy it
receives for all domestic and foreign securities. However, there may be
situations in which the investment manager may be unable to successfully vote a
proxy, or may choose not to vote a proxy, such as where: (i) a proxy ballot was
not received from the custodian bank; (ii) a meeting notice was received too
late; (iii) there are fees imposed upon the exercise of a vote and it is
determined that such fees outweigh the benefit of voting; (iv) there are legal
encumbrances to voting, including blocking restrictions in certain markets that
preclude the ability to dispose of a security if the investment manager votes a
proxy or where the investment manager is prohibited from voting by applicable
law, economic or other sanctions, or other regulatory or market requirements,
including but not limited to, effective Powers of Attorney; (v) additional
documentation or the disclosure of beneficial owner details is required; (vi)
the investment manager held shares on the record date but has sold them prior
to the meeting date; (vii) a proxy voting service is not offered by the
custodian in the market; (viii) due to either system error or human error, the
investment manager&#8217;s intended vote is not correctly submitted; (ix) the investment
manager believes it is not in the best interest of the Fund or its shareholders
to vote the proxy for any other reason not enumerated herein; or (x) a security
is subject to a securities lending or similar program that has transferred
legal title to the security to another person.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">In some non-U.S. jurisdictions, even if the investment manager uses
reasonable efforts to vote a proxy on behalf of the Fund, such vote or proxy
may be rejected because of (a) operational or procedural issues experienced by
one or more third parties involved in voting proxies in such jurisdictions; (b)
changes in the process or agenda for the meeting by the issuer for which the investment
manager does not have sufficient notice; or (c) the exercise by the issuer of
its discretion to reject the vote of the investment manager. In addition, despite
the best efforts of the Proxy Group and its agents, there may be situations where
the investment manager's votes are not received, or properly tabulated, by an
issuer or the issuer's agent.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">The investment manager or its affiliates may, on behalf of one or more of
the proprietary registered investment companies advised by the investment manager
or its affiliates, determine to use its best efforts to recall any security on
loan where the investment manager or its affiliates (a) learn of a vote on a
material event that may affect a security on loan and (b) determine that it is
in the best interests of such proprietary registered investment companies to
recall the security for voting purposes.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Procedures for meetings involving fixed income securities &amp; privately
held issuers</div></i><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">. &#160;From time to time, certain custodians may process events for
fixed income securities through their proxy voting channels rather than
corporate action channels for administrative convenience. In such cases, the
Proxy Group will receive ballots for such events on the ISS voting platform. The
Proxy Group will solicit voting instructions from the investment manager for
each Fund involved. If the Proxy Group does not receive voting instructions
from the investment manager, the Proxy Group will take no action on the event.
The investment manager may be unable to vote a proxy for a fixed income
security, or may choose not to vote a proxy, for the reasons described above.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">In the rare instance where there is a vote for a privately held issuer,
the decision will generally be made by the relevant portfolio managers or
research analysts.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">The Proxy Group will monitor such meetings involving fixed income
securities or privately held issuers for conflicts of interest in accordance
with these procedures. If a fixed income or privately held issuer is flagged as
a potential conflict of interest, the investment manager may nonetheless vote
as it deems in the best interests of the Fund. The investment manager will
report such decisions on an annual basis to the Fund board as may be required.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;color: black;layout-grid-mode: both;display: inline;">Shareholders may view the complete Policies online at franklintempleton.com.
Alternatively, shareholders may request copies of the Policies free of charge
by calling the Proxy Group collect at (954) 527-7678 or by sending a written
request to: Franklin Templeton Companies, LLC, 300 S.E. 2nd Street, Fort
Lauderdale, FL 33301-1923, Attention: Proxy Group. Copies of the Fund&#8217;s proxy
voting records are available online at franklintempleton.com and posted on the
SEC website at www.sec.gov. The proxy voting records are updated each year by
August 31 to reflect the most recent 12-month period ended June 30</div><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 8. Portfolio Managers
of Closed-End Management Investment Companies. N/A</div></b></div>

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<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 9. Purchases of Equity
Securities by Closed-End Management Investment Company and Affiliated Purchasers.&#160;&#160;&#160;&#160;&#160;&#160;&#160; N/A</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 10. Submission of
Matters to a Vote of Security Holders.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">There have been no changes to the procedures by which
shareholders may recommend nominees to the Registrant's Board of Trustees that would
require disclosure herein.</div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 11. Controls and Procedures.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">(a)&#160;<u>Evaluation of
Disclosure Controls and Procedures</u>. </div></b><div style="font-size: 10.0pt;display: inline;">The
Registrant maintains disclosure controls and procedures that are designed to provide
reasonable assurance that information required to be disclosed in the Registrant&#8217;s
filings under the Securities Exchange Act of 1934, as amended, and the
Investment Company Act of 1940 is recorded, processed, summarized and reported
within the periods specified in the rules and forms of the Securities and Exchange
Commission. Such information is accumulated and communicated to the
Registrant&#8217;s management, including its principal executive officer and
principal financial officer, as appropriate, to allow timely decisions regarding
required disclosure. The Registrant&#8217;s management, including the principal
executive officer and the principal financial officer, recognizes that any set
of controls and procedures, no matter how well designed and operated, can
provide only reasonable assurance of achieving the desired control objectives.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Within 90 days prior to the
filing date of this Shareholder Report on Form&#160;N-CSR,&#160;the Registrant
had carried out an evaluation, under the supervision and with the participation
of the Registrant&#8217;s management, including the Registrant&#8217;s principal executive
officer and the Registrant&#8217;s principal financial officer, of the effectiveness
of the design and operation of the Registrant&#8217;s disclosure controls and
procedures. Based on such evaluation, the Registrant&#8217;s principal executive
officer and principal financial officer concluded that the Registrant&#8217;s disclosure
controls and procedures are effective.</div></div>

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<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">(b)&#160;<u>Changes in
Internal Controls</u>. </div></b><div style="font-size: 10.0pt;display: inline;">There have
been no changes in the Registrant&#8217;s internal control over financial reporting
that occurred during the period covered by this report that has materially
affected, or is reasonably likely to materially affect the internal control over
financial reporting.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 12. Disclosure of
Securities Lending Activities for Closed-End Management Investment Company.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; N/A</div></b></div>

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<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 13. Exhibits.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(a)(1)<b> </b></div><div style="font-size: 10.0pt;display: inline;">Code of Ethics</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;"><a href="cleancoee3.htm">codeofethics</a></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(a)(2) Certifications
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of </div><div style="font-size: 10.0pt;display: inline;">Matthew T. Hinkle</div><div style="font-size: 10.0pt;display: inline;">,
Chief Executive Officer - Finance and Administration, and </div><div style="font-size: 10.0pt;display: inline;">Robert G. Kubilis</div><div style="font-size: 10.0pt;display: inline;">,
Chief Financial Officer and Chief Accounting Officer</div></div>

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<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;"><a href="tgif302.htm">section302</a></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(b) Certifications pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002 of </div><div style="font-size: 10.0pt;display: inline;">Matthew T. Hinkle</div><div style="font-size: 10.0pt;display: inline;">,
Chief Executive Officer - Finance and Administration, and </div><div style="font-size: 10.0pt;display: inline;">Robert G. Kubilis</div><div style="font-size: 10.0pt;display: inline;">,
Chief Financial Officer and Chief Accounting Officer</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;"><a href="tgif906.htm">section906</a></div></div>

<div align="center" style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>&#160;</b></div>

<div align="center" style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>&#160;</b></div>

<div align="center" style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>SIGNATURES</b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Pursuant to the requirements
of the Securities Exchange Act of 1934 and the Investment Company Act of 1940,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">TEMPLETON GLOBAL INCOME
FUND</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">By <u>S\Matthew T. Hinkle</u>__________________________</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160; Matthew T. Hinkle</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160; Chief Executive Officer
- Finance and Administration</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date August 25, 2021</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Pursuant to the requirements
of the Securities Exchange Act of 1934 and the Investment Company Act of 1940,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">By <u>S\Matthew T. Hinkle</u>____________________________</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160; Matthew T. Hinkle</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160; Chief Executive Officer
- Finance and Administration</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date August 25, 2021</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">By <u>S\Robert G. Kubilis</u>_______________________________
</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160; Robert G. Kubilis </div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160; Chief Financial Officer
and Chief Accounting Officer</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date August 25, 2021</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CODE ETH
<SEQUENCE>2
<FILENAME>cleancoee3.htm
<TEXT>
<html><head></head><body><div style="page: WordSection1">

<div style="text-autospace: none;font-size: 16.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: bold;margin-top: 4.0pt;margin-right: 63.1pt;margin-bottom: .0001pt;margin-left: 28.0pt"><div style="position: absolute;z-index: 15729152;left: 0px;width: 515px;height: 1px;margin-left: 207px;margin-top: 70px;display: inline;"><div style="background-color: transparent;background-repeat: no-repeat;background-size: cover;height: 1px;width: 515px;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAgMAAAABCAMAAAEDVW3RAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAGUExURQAAAAAAAKVnuc8AAAACdFJOU/8A5bcwSgAAAAlwSFlzAAAOwwAADsMBx2+oZAAAAA5JREFUKFNjGAWjgIEBAAIHAAHb64kqAAAAAElFTkSuQmCC)"></div></div>Code of Ethics for
Principal Executives &amp; Senior Financial Officers</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .3pt;margin-bottom: .0001pt"><b><div style="font-size: 10.5pt;display: inline;">&#160;</div></b></div>

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse;margin-left: 18.35pt">
 <tr style="height: 39.05pt">
  <td width="125" valign="top" style="width: 93.45pt;padding: 0in 0in 0in 0in;height: 39.05pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .2pt;margin-bottom: .0001pt"><b>&#160;</b></div>
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 10.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Procedures</div></b></div>
  </td>
  <td width="220" valign="top" style="width: 165.0pt;padding: 0in 0in 0in 0in;height: 39.05pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .2pt;margin-bottom: .0001pt"><b>&#160;</b></div>
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 2.95pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 12.0pt;display: inline;">Revised December 19, 2014</div></div>
  </td>
 </tr>
</table>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 1.0pt;margin-left: 111.45pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 1.0pt;display: inline;"><div style="background-color: transparent;background-repeat: no-repeat;background-size: cover;height: 1px;width: 515px;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAgMAAAABCAMAAAEDVW3RAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAGUExURQAAAAAAAKVnuc8AAAACdFJOU/8A5bcwSgAAAAlwSFlzAAAOwwAADsMBx2+oZAAAAA5JREFUKFNjGAWjgIEBAAIHAAHb64kqAAAAAElFTkSuQmCC)"></div></div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .35pt;margin-bottom: .0001pt"><b><div style="font-size: 22.0pt;display: inline;">&#160;</div></b></div>

<h1 align="center" style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: center;margin-top: 0in;margin-right: 114.3pt;margin-bottom: .0001pt;margin-left: 107.65pt">FRANKLIN TEMPLETON FUNDS</h1>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div align="center" style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: center;line-height: 186%;margin-left: 107.65pt;margin-right: 117.6pt;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 12.0pt;line-height: 186%;display: inline;">CODE OF ETHICS FOR PRINCIPAL
EXECUTIVES AND SENIOR FINANCIAL
OFFICERS</div></b></div>

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-indent: -35.5pt;margin-top: 11.45pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt">I.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Covered Officers and Purpose of the<div style="letter-spacing: -.1pt;display: inline;"> </div>Code</h2>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 37.85pt;margin-top: 0in;margin-bottom: .0001pt">This code of ethics (the "Code") applies to the Principal
Executive Officers, Principal Financial Officer and Principal Accounting
Officer (the "Covered Officers," each of whom is set forth in Exhibit
A) of each investment company advised by a Franklin Resources subsidiary and
that is registered with the United States Securities &amp; Exchange Commission
(&#8220;SEC&#8221;) (collectively, "FT Funds") for the purpose of promoting:</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .3pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-top: 0in;margin-right: 79.75pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Honest and ethical conduct, including the ethical resolution of
actual or apparent conflicts of interest between personal and professional<div style="letter-spacing: -.3pt;display: inline;"> </div>relationships;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-top: 5.7pt;margin-right: 46.3pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Full, fair, accurate, timely and understandable disclosure in
reports and documents<div style="letter-spacing: -1.3pt;display: inline;"> </div>that a
registrant files with, or submits to, the SEC and in other public
communications made by or on behalf of the FT<div style="letter-spacing: -.1pt;display: inline;">
</div>Funds;</div>

<div style="text-indent: -18.05pt;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-top: 4.5pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Compliance with applicable laws and governmental rules and<div style="letter-spacing: -.3pt;display: inline;"> </div>regulations;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.95pt;margin-right: 38.0pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>The prompt internal reporting of violations of the Code to an
appropriate person or persons identified in the Code;<div style="letter-spacing: -.1pt;display: inline;"> </div>and</div>

<div style="text-indent: -18.05pt;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-top: 3.9pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Accountability for adherence to the<div style="letter-spacing: -.1pt;display: inline;"> </div>Code.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .1pt;margin-bottom: .0001pt"><div style="font-size: 12.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 37.9pt;margin-top: 0in;margin-bottom: .0001pt">Each Covered Officer will be expected to adhere to a high standard of
business ethics and must be sensitive to situations that may give rise to
actual as well as apparent conflicts of interest.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .25pt;margin-bottom: .0001pt"><div style="font-size: 11.5pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 28.0pt;margin-right: 42.75pt;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;">*<div style="letter-spacing: -.1pt;display: inline;"> </div></div></i><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;">Rule<div style="letter-spacing: -.1pt;display: inline;"> </div>38a-1<div style="letter-spacing: -.1pt;display: inline;"> </div>under<div style="letter-spacing: -.1pt;display: inline;"> </div>the Investment<div style="letter-spacing: -.05pt;display: inline;"> </div>Company<div style="letter-spacing: -.1pt;display: inline;"> </div>Act<div style="letter-spacing: -.1pt;display: inline;"> </div>of<div style="letter-spacing: -.05pt;display: inline;"> </div>1940<div style="letter-spacing: -.1pt;display: inline;"> </div>(&#8220;1940<div style="letter-spacing: -.2pt;display: inline;"> </div>Act&#8221;)<div style="letter-spacing: -.1pt;display: inline;"> </div>and<div style="letter-spacing: -.05pt;display: inline;"> </div>Rule<div style="letter-spacing: -.15pt;display: inline;"> </div>206(4)-7<div style="letter-spacing: -.05pt;display: inline;">
</div>under<div style="letter-spacing: -.1pt;display: inline;"> </div>the<div style="letter-spacing: -.05pt;display: inline;"> </div>Investment<div style="letter-spacing: -.1pt;display: inline;"> </div>Advisers<div style="letter-spacing: -.05pt;display: inline;"> </div>Act<div style="letter-spacing: -.05pt;display: inline;"> </div>of 1940 (&#8220;Advisers Act&#8221;) (together the
&#8220;Compliance Rule&#8221;) require registered investment companies and registered
investment advisers to, among other things, adopt and implement written
policies and procedures reasonably designed to prevent violations of the
federal securities laws (&#8220;Compliance Rule Policies and<div style="letter-spacing: -.4pt;display: inline;"> </div>Procedures&#8221;).</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .2pt;margin-bottom: .0001pt"><div style="font-size: 14.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 27.95pt;margin-right: 42.75pt;margin-top: .05pt;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;">CONFIDENTIAL INFORMATION. This document is
the proprietary product of Franklin Templeton Investments. It may NOT be
distributed outside the company unless it is made subject to a non-disclosure
agreement and/or such release receives authorization by an FTI Chief Compliance
Officer. Any unauthorized use, reproduction or transfer of this document is
strictly prohibited. Franklin Templeton Investments &#169; 2014. All Rights<div style="letter-spacing: -.3pt;display: inline;"> </div>Reserved.</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection2">

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-indent: -38.85pt;margin-top: 4.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt">II.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Other Policies and<div style="letter-spacing: -.05pt;display: inline;"> </div>Procedures</h2>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 38.05pt;margin-top: 0in;margin-bottom: .0001pt">This Code shall be the sole code of ethics adopted by the Funds for
purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms
applicable to registered investment companies thereunder.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 11.5pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 28.0pt;margin-right: 37.9pt;margin-top: 0in;margin-bottom: .0001pt">Franklin Resources, Inc. has separately adopted the <u>Code of Ethics and
Business</u> <u>Conduct</u> (&#8220;Business Conduct&#8221;), which is applicable to all
officers, directors and employees of Franklin Resources, Inc., including
Covered Officers. It summarizes the values, principles and business practices
that guide the employee&#8217;s business conduct and also provides a set of basic
principles to guide officers, directors and employees regarding the minimum
ethical requirements expected of them. It supplements the values, principles
and business conduct identified in the Code and other existing employee<div style="letter-spacing: -.15pt;display: inline;"> </div>policies.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 28.0pt;margin-right: 37.9pt;margin-top: 0in;margin-bottom: .0001pt">Additionally, the Franklin Templeton Funds have separately adopted the <u>FTI
Personal</u> <u>Investments and Insider Trading Policy</u> governing personal
securities trading and other related matters. The Code for Insider Trading
provides for separate requirements that apply to the Covered Officers and
others, and therefore is not part of this Code.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 37.85pt;margin-top: 0in;margin-bottom: .0001pt">Insofar as other policies or procedures of Franklin Resources, Inc., the
Funds, the Funds&#8217; adviser, principal underwriter, or other service providers
govern or purport to govern the behavior or activities of the Covered Officers
who are subject to this Code, they are superceded by this Code to the extent
that they overlap or conflict with the provisions of this Code. Please review
these other documents or consult with the Legal Department if have questions
regarding the applicability of these policies to<div style="letter-spacing: -.15pt;display: inline;"> </div>you.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .05pt;margin-bottom: .0001pt">&#160;</div>

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-indent: -42.15pt;margin-top: 0in;margin-right: 74.95pt;margin-bottom: .0001pt;margin-left: 63.95pt">III.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Covered Officers Should Handle Ethically Actual and Apparent Conflicts
of Interest</h2>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .4pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 37.9pt;margin-top: 0in;margin-bottom: .0001pt"><b>Overview. </b>A "conflict of interest" occurs when a Covered
Officer's private interest interferes with the interests of, or his or her
service to, the FT Funds. For example, a conflict of interest would arise if a
Covered Officer, or a member of his family, receives improper personal benefits
as a result of apposition with the FT Funds.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .05pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 37.9pt;margin-top: .05pt;margin-bottom: .0001pt">Certain conflicts of interest arise out of the relationships between
Covered Officers and the FT Funds and already are subject to conflict of
interest provisions in the Investment Company Act of 1940 ("Investment
Company Act") and the Investment Advisers Act of 1940 ("Investment
Advisers Act"). For example, Covered Officers may not individually engage
in certain transactions (such as the purchase or sale of securities or other
property) with the FT Funds because of their status as "affiliated
persons" of the FT Funds. The FT Funds&#8217; and the investment advisers&#8217;
compliance programs and procedures are designed to prevent, or identify and
correct, violations of these provisions. This Code does not, and is not
intended to, repeat or replace these programs and procedures, and such
conflicts fall outside of the parameters of this Code.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt"><div style="font-size: 10.5pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-indent: .5in;margin-left: 27.95pt;margin-right: 45.85pt;margin-top: 0in;margin-bottom: .0001pt">Although
typically not presenting an opportunity for improper personal benefit,
conflicts arise from, or as a result of, the contractual relationship between
the FT Funds, the investment advisers and the fund administrator of which the
Covered Officers are also officers or employees. As a result, this Code
recognizes that the Covered Officers will, in the normal course of their duties
(whether formally for the FT Funds, for the adviser, the administrator, or</div>

<h2 align="center" style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-align: center;margin-top: 6.95pt;margin-right: 9.95pt;margin-bottom: .0001pt;margin-left: 0in"><div style="font-family: &quot;Times New Roman&quot;,serif;display: inline;">2</div></h2>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection3">

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 28.0pt;margin-right: 42.75pt;margin-top: 3.85pt;margin-bottom: .0001pt">for all three), be involved in
establishing policies and implementing decisions that will have different
effects on the adviser, administrator and the FT Funds. The participation of
the Covered Officers in such activities is inherent in the contractual
relationship between the FT Funds, the adviser, and the administrator and is
consistent with the performance by the Covered Officers of their duties as
officers of the FT Funds. Thus, if performed in conformity with the provisions
of the Investment Company Act and the Investment Advisers Act, such activities
will be deemed to have been handled ethically. In addition, it is recognized by
the FT Funds' Boards of Directors ("Boards") that the Covered Officers
may also be officers or employees of one or more other investment companies
covered by this or other codes.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 11.5pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-indent: .5in;margin-left: 28.0pt;margin-right: 40.9pt;margin-top: 0in;margin-bottom: .0001pt">Other conflicts
of interest are covered by the Code, even if such conflicts of interest are not
subject to provisions in the Investment Company Act and the Investment Advisers
Act. The following list provides examples of conflicts of interest under the
Code, but Covered Officers should keep in mind that these examples are not
exhaustive. The overarching principle is that the personal interest of a
Covered Officer should not be placed improperly before the interest of the FT
Funds.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .35pt;margin-bottom: .0001pt"><div style="font-size: 9.5pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 28.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Each Covered Officer must:</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.65pt;margin-right: 38.95pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Not use his or her personal influence or personal relationships
improperly to influence investment decisions or financial reporting by the FT
Funds whereby the Covered<div style="letter-spacing: -1.3pt;display: inline;"> </div>Officer
would benefit personally to the detriment of the FT<div style="letter-spacing: -.2pt;display: inline;"> </div>Funds;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.75pt;margin-right: .7in;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Not cause the FT Funds to take action, or fail to take action,
for the individual personal benefit of the Covered Officer rather than the
benefit the FT<div style="letter-spacing: -.25pt;display: inline;"> </div>Funds;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.75pt;margin-right: 40.7pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Not retaliate against any other Covered Officer or any employee
of the FT Funds or their affiliated persons for reports of potential violations
that are made in good<div style="letter-spacing: -.5pt;display: inline;"> </div>faith;</div>

<div style="text-indent: -18.05pt;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.7pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Report at least annually the following affiliations or other<div style="letter-spacing: -.2pt;display: inline;"> </div>relationships:<a href="#_bookmark0"><div style="font-size: 7.0pt;color: windowtext;position: relative;top: -3.5pt;text-decoration: none;display: inline;">1</div></a></div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 92%;margin-top: .8pt;margin-right: 48.7pt;margin-bottom: .0001pt;margin-left: 99.95pt"><div style="font-family: &quot;Courier New&quot;;display: inline;">o<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;
</div></div>all directorships for public companies and all companies that are
required to file reports with the<div style="letter-spacing: -.1pt;display: inline;"> </div>SEC;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 92%;margin-top: .8pt;margin-right: 46.3pt;margin-bottom: .0001pt;margin-left: 99.95pt"><div style="font-family: &quot;Courier New&quot;;display: inline;">o<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;
</div></div>any direct or indirect business relationship with any independent
directors of<div style="letter-spacing: -1.15pt;display: inline;"> </div>the FT<div style="letter-spacing: -.05pt;display: inline;"> </div>Funds;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 95%;margin-top: .5pt;margin-right: 52.45pt;margin-bottom: .0001pt;margin-left: 99.95pt"><div style="font-family: &quot;Courier New&quot;;display: inline;">o<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;
</div></div>any direct or indirect business relationship with any independent
public accounting firm (which are not related to the routine issues related to
the<div style="letter-spacing: -1.1pt;display: inline;"> </div>firm&#8217;s service as the Covered
Persons accountant);<div style="letter-spacing: -.05pt;display: inline;"> </div>and</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 95%;margin-top: .55pt;margin-right: 42.6pt;margin-bottom: .0001pt;margin-left: 99.95pt"><div style="font-family: &quot;Courier New&quot;;display: inline;">o<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;
</div></div>any direct or indirect interest in any transaction with any FT
Fund that will benefit the officer (not including benefits derived from the
advisory, sub-advisory, distribution or service agreements with affiliates of
Franklin<div style="letter-spacing: -.55pt;display: inline;"> </div>Resources).</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 63.95pt;margin-right: 0in;margin-top: .2pt;margin-bottom: .0001pt">These reports will be reviewed
by the Legal Department for compliance with the Code.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-indent: .5in;margin-left: 27.95pt;margin-right: 48.95pt;margin-top: 5.85pt;margin-bottom: .0001pt">There are some
conflict of interest situations that should always be approved in writing by
Franklin Resources General Counsel or Deputy General Counsel, if material.
Examples of these include<a href="#_bookmark1"><div style="font-size: 7.0pt;color: windowtext;position: relative;top: -3.5pt;text-decoration: none;display: inline;">2</div></a>:</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 4.6pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Service as a director on the board of any public or private<div style="letter-spacing: -.35pt;display: inline;"> </div>Company.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .4pt;margin-bottom: .0001pt">

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<br clear="ALL">


<div style="text-indent: 0in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 9.5pt;margin-top: 3.45pt;margin-right: 44.85pt;margin-bottom: .0001pt;margin-left: 27.95pt"><div style="font-size: 6.5pt;position: relative;top: -3.5pt;display: inline;">1<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 8.0pt;display: inline;">Reporting<div style="letter-spacing: -.2pt;display: inline;"> </div>of<div style="letter-spacing: -.2pt;display: inline;"> </div>these<div style="letter-spacing: -.25pt;display: inline;"> </div>affiliations<div style="letter-spacing: -.2pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>other<div style="letter-spacing: -.25pt;display: inline;"> </div>relationships<div style="letter-spacing: -.2pt;display: inline;"> </div>shall<div style="letter-spacing: -.2pt;display: inline;"> </div>be<div style="letter-spacing: -.25pt;display: inline;"> </div>made<div style="letter-spacing: -.25pt;display: inline;"> </div>by<div style="letter-spacing: -.2pt;display: inline;"> </div>completing<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>annual<div style="letter-spacing: -.2pt;display: inline;"> </div>Directors<div style="letter-spacing: -.2pt;display: inline;">
</div>and<div style="letter-spacing: -.25pt;display: inline;"> </div>Officers<div style="letter-spacing: -.2pt;display: inline;"> </div>Questionnaire and returning the
questionnaire to Franklin Resources Inc, General Counsel or Deputy General<div style="letter-spacing: -.9pt;display: inline;"> </div>Counsel.</div></div>

<div style="text-indent: -11.2pt;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 9.45pt;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 39.15pt"><div style="font-size: 8.0pt;position: relative;top: -3.5pt;display: inline;">2<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;
</div></div><div style="font-size: 8.0pt;display: inline;">Any<div style="letter-spacing: -.1pt;display: inline;"> </div>activity<div style="letter-spacing: -.1pt;display: inline;"> </div>or<div style="letter-spacing: -.1pt;display: inline;"> </div>relationship<div style="letter-spacing: -.15pt;display: inline;"> </div>that<div style="letter-spacing: -.1pt;display: inline;"> </div>would<div style="letter-spacing: -.15pt;display: inline;"> </div>present<div style="letter-spacing: -.1pt;display: inline;">
</div>a<div style="letter-spacing: -.05pt;display: inline;"> </div>conflict<div style="letter-spacing: -.15pt;display: inline;"> </div>for<div style="letter-spacing: -.1pt;display: inline;"> </div>a<div style="letter-spacing: -.15pt;display: inline;"> </div>Covered Officer<div style="letter-spacing: -.15pt;display: inline;"> </div>may<div style="letter-spacing: -.05pt;display: inline;"> </div>also<div style="letter-spacing: -.15pt;display: inline;"> </div>present<div style="letter-spacing: -.15pt;display: inline;">
</div>a<div style="letter-spacing: -.1pt;display: inline;"> </div>conflict<div style="letter-spacing: -.15pt;display: inline;"> </div>for<div style="letter-spacing: -.1pt;display: inline;"> </div>the<div style="letter-spacing: -.15pt;display: inline;"> </div>Covered Officer</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 103%;margin-left: 27.95pt;margin-right: 42.75pt;margin-top: .4pt;margin-bottom: .0001pt"><div style="font-size: 8.0pt;line-height: 103%;display: inline;">if a member of the Covered Officer's
immediate family engages in such an activity or has such a relationship. The
Cover Person should also obtain written approval by FT&#8217;s General Counsel in
such situations.</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><div style="font-size: 9.5pt;display: inline;">&#160;</div></div>

<h2 align="center" style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-align: center;margin-top: 0in;margin-right: 9.95pt;margin-bottom: .0001pt;margin-left: 0in"><div style="font-family: &quot;Times New Roman&quot;,serif;display: inline;">3</div></h2>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection4">

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 4.15pt;margin-right: 67.7pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>The receipt of any gifts in excess of $100 from any person, from
any corporation<div style="letter-spacing: -1.1pt;display: inline;"> </div>or association.</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.65pt;margin-right: 41.95pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>The receipt of any entertainment from any Company with which the
FT Funds has current or prospective business dealings unless such entertainment
is business related, reasonable in cost, appropriate as to time and place, and
not so frequent as to raise<div style="letter-spacing: -1.1pt;display: inline;"> </div>any
question of impropriety. Notwithstanding the foregoing, the Covered Officers
must obtain prior approval from the Franklin Resources General Counsel for any
entertainment with a value in excess of<div style="letter-spacing: -.15pt;display: inline;"> </div>$1000.</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.95pt;margin-right: 45.65pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Any ownership interest in, or any consulting or employment
relationship with, any of<div style="letter-spacing: -1.3pt;display: inline;"> </div>the FT
Fund&#8217;s service providers, other than an investment adviser, principal
underwriter, administrator or any affiliated person<div style="letter-spacing: -.1pt;display: inline;"> </div>thereof.</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.7pt;margin-right: 39.5pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>A direct or indirect financial interest in commissions,
transaction charges or spreads paid by the FT Funds for effecting portfolio
transactions or for selling or redeeming shares other than an interest arising
from the Covered Officer's employment, such as compensation or equity<div style="letter-spacing: -.1pt;display: inline;"> </div>ownership.</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-top: 5.85pt;margin-right: 42.65pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Franklin Resources General Counsel or Deputy General Counsel will
provide a report<div style="letter-spacing: -1.3pt;display: inline;"> </div>to the FT Funds
Audit Committee of any approvals granted at the next regularly scheduled
meeting.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt"><div style="font-size: 16.5pt;display: inline;">&#160;</div></div>

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-indent: -43.5pt;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt">IV.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Disclosure and<div style="letter-spacing: -.05pt;display: inline;"> </div>Compliance</h2>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 11.15pt;margin-right: 78.1pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Each Covered Officer should familiarize himself with the
disclosure<div style="letter-spacing: -1.25pt;display: inline;"> </div>requirements generally
applicable to the FT<div style="letter-spacing: -.1pt;display: inline;"> </div>Funds;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.65pt;margin-right: 39.5pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Each Covered Officer should not knowingly misrepresent, or cause
others to misrepresent, facts about the FT Funds to others, whether within or
outside the FT Funds, including to the FT Funds&#8217; directors and auditors, and to
governmental<div style="letter-spacing: -1.15pt;display: inline;"> </div>regulators and
self-regulatory<div style="letter-spacing: -.05pt;display: inline;"> </div>organizations;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.85pt;margin-right: 43.75pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Each Covered Officer should, to the extent appropriate within his
or her area of responsibility, consult with other officers and employees of the
FT Funds, the FT Fund&#8217;s adviser and the administrator with the goal of
promoting full, fair, accurate, timely and understandable disclosure in the
reports and documents the FT Funds file with, or submit to, the SEC and in
other public communications made by the FT Funds;<div style="letter-spacing: -.75pt;display: inline;"> </div>and</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.85pt;margin-right: 41.9pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>It is the responsibility of each Covered Officer to promote
compliance with the standards and restrictions imposed by applicable laws,
rules and<div style="letter-spacing: -.2pt;display: inline;"> </div>regulations.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .35pt;margin-bottom: .0001pt"><div style="font-size: 16.5pt;display: inline;">&#160;</div></div>

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-indent: -40.15pt;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt">V.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Reporting and Accountability</h2>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 28.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Each Covered Officer must:</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.8pt;margin-right: 77.25pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Upon becoming a covered officer affirm in writing to the Board
that he or she has received, read, and understands the Code (see Exhibit<div style="letter-spacing: -.2pt;display: inline;"> </div>B);</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.0pt;margin-right: 40.75pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Annually thereafter affirm to the Board that he has complied with
the requirements of<div style="letter-spacing: -1.25pt;display: inline;"> </div>the Code;<div style="letter-spacing: -.05pt;display: inline;"> </div>and</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.95pt;margin-right: 50.5pt;margin-bottom: .0001pt;margin-left: 63.95pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Notify Franklin Resources&#8217; General Counsel or Deputy General
Counsel promptly if he or she knows of any violation of this Code. Failure to
do so is itself is a violation of<div style="letter-spacing: -1.15pt;display: inline;"> </div>this</div>

<h2 align="center" style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-align: center;margin-top: 5.1pt;margin-right: 9.95pt;margin-bottom: .0001pt;margin-left: 0in"><div style="font-family: &quot;Times New Roman&quot;,serif;display: inline;">4</div></h2>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection5">

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 64.0pt;margin-right: 0in;margin-top: 3.85pt;margin-bottom: .0001pt">Code.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-indent: .5in;margin-left: 27.95pt;margin-right: 42.75pt;margin-top: 7.0pt;margin-bottom: .0001pt">Franklin
Resources&#8217; General Counsel and Deputy General Counsel are responsible for
applying this Code to specific situations in which questions are presented
under it and have the authority to interpret this Code in any particular
situation.<a href="#_bookmark2"><div style="font-size: 7.0pt;color: windowtext;position: relative;top: -3.5pt;text-decoration: none;display: inline;">3</div></a><div style="font-size: 7.0pt;position: relative;top: -3.5pt;display: inline;">&#160;</div>However, the
Independent Directors of the respective FT Funds will consider any approvals or
waivers<a href="#_bookmark3"><div style="font-size: 7.0pt;color: windowtext;position: relative;top: -3.5pt;text-decoration: none;display: inline;">4</div></a><div style="font-size: 7.0pt;position: relative;top: -3.5pt;display: inline;">&#160;</div>sought by any
Chief Executive Officers of the Funds.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .25pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 64.0pt;margin-right: 0in;margin-top: .05pt;margin-bottom: .0001pt">The FT Funds will follow these
procedures in investigating and enforcing this Code:</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 0in;margin-right: 38.35pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Franklin Resources General Counsel or Deputy General Counsel will
take all<div style="letter-spacing: -1.3pt;display: inline;"> </div>appropriate action to
investigate any potential violations reported to the Legal<div style="letter-spacing: -.5pt;display: inline;"> </div>Department;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.0pt;margin-right: 51.15pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>If, after such investigation, the General Counsel or Deputy
General Counsel believes that no violation has occurred, The General Counsel is
not required to take any<div style="letter-spacing: -1.25pt;display: inline;"> </div>further
action;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.0pt;margin-right: 48.1pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Any matter that the General Counsel or Deputy General Counsel
believes is a<div style="letter-spacing: -1.35pt;display: inline;"> </div>violation will be
reported to the Independent Directors of the appropriate FT<div style="letter-spacing: -.35pt;display: inline;"> </div>Fund;</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.0pt;margin-right: 38.3pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>If the Independent Directors concur that a violation has
occurred, it will inform and make a recommendation to the Board of the
appropriate FT Fund or Funds, which will<div style="letter-spacing: -1.2pt;display: inline;"> </div>consider
appropriate action, which may include review of, and appropriate modifications
to, applicable policies and procedures; notification to appropriate personnel
of the investment adviser or its board; or a recommendation to dismiss the
Covered<div style="letter-spacing: -.9pt;display: inline;"> </div>Officer;</div>

<div style="text-indent: -18.05pt;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.1pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>The Independent Directors will be responsible for granting
waivers, as appropriate;<div style="letter-spacing: -.7pt;display: inline;"> </div>and</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 5.9pt;margin-right: 65.2pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Any changes to or waivers of this Code will, to the extent
required, are disclosed<div style="letter-spacing: -1.25pt;display: inline;"> </div>as provided
by SEC<div style="letter-spacing: -.1pt;display: inline;"> </div>rules.<a href="#_bookmark4"><div style="font-size: 7.0pt;color: windowtext;position: relative;top: -3.5pt;text-decoration: none;display: inline;">5</div></a></div>

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-indent: -43.5pt;margin-top: 6.25pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt">VI.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Other Policies and<div style="letter-spacing: -.05pt;display: inline;"> </div>Procedures</h2>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .35pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 46.55pt;margin-top: 0in;margin-bottom: .0001pt">This Code shall be the sole code of ethics adopted by the FT Funds for
purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms
applicable to registered investment companies thereunder. Insofar as other
policies or procedures of the FT Funds, the FT Funds' advisers, principal
underwriter, or other service providers govern or purport to govern the
behavior or activities of the Covered Officers who are subject to this Code,
they are superseded by this Code to the extent that they overlap or conflict
with the provisions of this Code. The FTI Personal Investments and Insider
Trading Policy, adopted by the FT Funds, FT investment advisers and FT Fund&#8217;s
principal underwriter pursuant to Rule 17j-1 under the Investment Company Act,
the Code of Ethics and Business Conduct and more detailed policies and
procedures set forth in FT&#8217;s Employee Handbook are separate requirements
applying to the Covered Officers and others, and are not part of this<div style="letter-spacing: -.4pt;display: inline;"> </div>Code.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">

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<br clear="ALL">


<div style="text-indent: 0in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;line-height: 9.5pt;margin-top: 3.45pt;margin-right: 41.25pt;margin-bottom: .0001pt;margin-left: 27.95pt"><div style="font-size: 6.5pt;position: relative;top: -3.5pt;display: inline;">3<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 8.0pt;display: inline;">Franklin<div style="letter-spacing: -.25pt;display: inline;"> </div>Resources<div style="letter-spacing: -.25pt;display: inline;"> </div>General<div style="letter-spacing: -.2pt;display: inline;"> </div>Counsel<div style="letter-spacing: -.2pt;display: inline;">
</div>and<div style="letter-spacing: -.25pt;display: inline;"> </div>Deputy<div style="letter-spacing: -.15pt;display: inline;"> </div>General<div style="letter-spacing: -.2pt;display: inline;">
</div>Counsel<div style="letter-spacing: -.15pt;display: inline;"> </div>are<div style="letter-spacing: -.25pt;display: inline;"> </div>authorized<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>consult,<div style="letter-spacing: -.25pt;display: inline;"> </div>as<div style="letter-spacing: -.2pt;display: inline;"> </div>appropriate,<div style="letter-spacing: -.25pt;display: inline;"> </div>with<div style="letter-spacing: -.25pt;display: inline;"> </div>members<div style="letter-spacing: -.2pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div>the
Audit<div style="letter-spacing: -.15pt;display: inline;"> </div>Committee, counsel<div style="letter-spacing: -.05pt;display: inline;"> </div>to<div style="letter-spacing: -.1pt;display: inline;"> </div>the<div style="letter-spacing: -.1pt;display: inline;"> </div>FT<div style="letter-spacing: -.1pt;display: inline;"> </div>Funds<div style="letter-spacing: -.05pt;display: inline;"> </div>and<div style="letter-spacing: -.1pt;display: inline;"> </div>counsel<div style="letter-spacing: -.05pt;display: inline;"> </div>to<div style="letter-spacing: -.15pt;display: inline;"> </div>the<div style="letter-spacing: -.1pt;display: inline;"> </div>Independent<div style="letter-spacing: -.1pt;display: inline;"> </div>Directors,<div style="letter-spacing: -.1pt;display: inline;"> </div>and<div style="letter-spacing: -.1pt;display: inline;"> </div>are<div style="letter-spacing: -.1pt;display: inline;"> </div>encouraged<div style="letter-spacing: -.1pt;display: inline;"> </div>to<div style="letter-spacing: -.1pt;display: inline;"> </div>do<div style="letter-spacing: -.1pt;display: inline;"> </div>so.</div></div>

<div style="text-indent: -8.25pt;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;line-height: 9.45pt;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 36.2pt"><div style="font-size: 8.0pt;position: relative;top: -3.5pt;display: inline;">4<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;
</div></div><div style="font-size: 8.0pt;display: inline;">Item<div style="letter-spacing: .3pt;display: inline;"> </div>2<div style="letter-spacing: .3pt;display: inline;"> </div>of<div style="letter-spacing: .3pt;display: inline;"> </div>Form<div style="letter-spacing: .3pt;display: inline;"> </div>N-CSR<div style="letter-spacing: .35pt;display: inline;"> </div>defines<div style="letter-spacing: .3pt;display: inline;"> </div>"waiver"<div style="letter-spacing: .3pt;display: inline;"> </div>as<div style="letter-spacing: .3pt;display: inline;"> </div>"the<div style="letter-spacing: .3pt;display: inline;"> </div>approval<div style="letter-spacing: .35pt;display: inline;">
</div>by<div style="letter-spacing: .3pt;display: inline;"> </div>the<div style="letter-spacing: .3pt;display: inline;"> </div>registrant<div style="letter-spacing: .3pt;display: inline;"> </div>of<div style="letter-spacing: .3pt;display: inline;"> </div>a<div style="letter-spacing: .35pt;display: inline;"> </div>material<div style="letter-spacing: .3pt;display: inline;"> </div>departure<div style="letter-spacing: .3pt;display: inline;">
</div>from<div style="letter-spacing: .3pt;display: inline;"> </div>a<div style="letter-spacing: .3pt;display: inline;"> </div>provision<div style="letter-spacing: .3pt;display: inline;"> </div>of<div style="letter-spacing: .35pt;display: inline;"> </div>the<div style="letter-spacing: .3pt;display: inline;"> </div>code<div style="letter-spacing: .3pt;display: inline;"> </div>of</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;line-height: 103%;margin-left: 28.0pt;margin-right: 38.0pt;margin-top: .4pt;margin-bottom: .0001pt"><div style="font-size: 8.0pt;line-height: 103%;display: inline;">ethics" and
"implicit waiver," which must also be disclosed, as "the
registrant's failure to take action within a reasonable period of time
regarding a material departure from a provision of the code of ethics that has
been made known to an executive officer" of the registrant. See Part X.</div></div>

<div style="text-indent: -7.7pt;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 11.0pt;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 35.65pt"><div style="font-size: 6.5pt;font-family: &quot;Times New Roman&quot;,serif;position: relative;top: -3.5pt;display: inline;">5<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160; </div></div><div style="font-size: 8.0pt;display: inline;">See Part<div style="letter-spacing: -.15pt;display: inline;"> </div>X.</div></div>

</div><div style="font-size: 6.5pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection6">

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-indent: -.65in;margin-top: 4.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt">VII.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Amendments</h2>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .35pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-indent: .5in;margin-left: 27.95pt;margin-right: 46.5pt;margin-top: 0in;margin-bottom: .0001pt">Any amendments
to this Code, other than amendments to Exhibit A, must be approved or ratified
by a majority vote of the FT Funds&#8217; Board including a majority of independent
directors.</div>

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-indent: -50.2pt;margin-top: 6.3pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt">VIII.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Confidentiality</h2>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .35pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 38.0pt;margin-top: 0in;margin-bottom: .0001pt">All reports and records prepared or maintained pursuant to this Code will
be considered confidential and shall be maintained and protected accordingly.
Except as otherwise required by law or this Code, such matters shall not be
disclosed to anyone other than the FT Funds&#8217; Board and their counsel.</div>

<h2 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;font-weight: normal;text-align: justify;text-indent: -43.5pt;margin-top: 6.4pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt">IX.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Internal<div style="letter-spacing: -.05pt;display: inline;"> </div>Use</h2>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .3pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 37.9pt;margin-top: 0in;margin-bottom: .0001pt">The Code is intended solely for the internal use by the FT Funds and does
not constitute an admission, by or on behalf of any FT Funds, as to any fact,
circumstance, or legal conclusion.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .2pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-indent: -36.05pt;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 63.95pt">X.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Disclosure on Form<div style="letter-spacing: -.1pt;display: inline;"> </div>N-CSR</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .2pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-indent: .5in;margin-left: 27.95pt;margin-right: 37.65pt;margin-top: 0in;margin-bottom: .0001pt">Item 2 of Form
N-CSR requires a registered management investment company to disclose annually
whether, as of the end of the period covered by the report, it has adopted a
code of ethics that applies to the registrant's principal executive officer,
principal financial officer, principal accounting officer or controller, or
persons performing similar functions, regardless of whether these officers are
employed by the registrant or a third party. If the registrant has not adopted
such a code of ethics, it must explain why it has not done so.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-indent: 35.95pt;margin-left: 28.0pt;margin-right: 38.75pt;margin-top: 6.0pt;margin-bottom: .0001pt">The
registrant must also: (1) file with the SEC a copy of the code as an exhibit to
its annual report; (2) post the text of the code on its Internet website and
disclose, in its most recent report on Form N-CSR, its Internet address and the
fact that it has posted the code on its Internet website; or (3) undertake in
its most recent report on Form N-CSR to provide to any person without charge,
upon request, a copy of the code and explain the manner in which such request
may be made. Disclosure is also required of amendments to, or waivers
(including implicit waivers) from, a provision of the code in the registrant's
annual report on Form N-CSR or on its website. If the registrant intends to
satisfy the requirement to disclose amendments and waivers by posting such
information on its website, it will be required to disclose its Internet address
and this<div style="letter-spacing: -.1pt;display: inline;"> </div>intention.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 63.95pt;margin-right: 0in;margin-top: 6.05pt;margin-bottom: .0001pt">The Legal Department shall be
responsible for ensuring that:</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-size: 10.0pt;font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>a copy of the Code is filed with the SEC as an exhibit to each
Fund&#8217;s annual report;<div style="letter-spacing: -.7pt;display: inline;"> </div>and</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 6.0pt;margin-right: 42.05pt;margin-bottom: .0001pt;margin-left: 64.0pt"><div style="font-size: 10.0pt;font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>any amendments to, or waivers (including implicit waivers) from,
a provision of the<div style="letter-spacing: -1.35pt;display: inline;"> </div>Code is
disclosed in the registrant's annual report on Form<div style="letter-spacing: -.3pt;display: inline;"> </div>N-CSR.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 45.0pt;margin-top: 6.0pt;margin-bottom: .0001pt">In the event that the foregoing disclosure is omitted or is determined to
be incorrect, the Legal Department shall promptly file such information with
the SEC as an amendment to Form N-CSR.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;text-indent: .5in;margin-left: 27.95pt;margin-right: 41.95pt;margin-top: 6.0pt;margin-bottom: .0001pt">In such an event, the Fund Chief Compliance Officer shall review the Code
and propose such changes to the Code as are necessary or appropriate to prevent
reoccurrences.</div>

</div><div style="font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection7">

<h1 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 4.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 28.0pt">EXHIBIT A</h1>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt"><b><div style="font-size: 6.0pt;display: inline;">&#160;</div></b></div>

<div align="center" style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: center;margin-left: 137.55pt;margin-right: 147.5pt;margin-top: 4.65pt;margin-bottom: .0001pt">Persons
Covered by the Franklin Templeton Funds Code of Ethics</div>

<div align="center" style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: center;line-height: 12.6pt;margin-left: 107.65pt;margin-right: 117.6pt;margin-top: 0in;margin-bottom: .0001pt">July 2021</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 12.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 12.0pt;display: inline;">&#160;</div></div>

<h1 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 10.4pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 28.0pt">FRANKLIN
GROUP OF FUNDS</h1>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Edward<div style="letter-spacing: -.15pt;display: inline;"> </div>Perks&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President
and Chief Executive Officer &#8211; Investment Management </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Rupert H.<div style="letter-spacing: -.15pt;display: inline;"> </div>Johnson,<div style="letter-spacing: -.05pt;display: inline;"> </div>Jr.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chairman of the Board
and Vice<div style="letter-spacing: -.45pt;display: inline;"> </div>President</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Michael<div style="letter-spacing: -.15pt;display: inline;"> </div>McCarthy&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President
and Chief Executive Officer &#8211; Investment Management </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Sonal Desai,<div style="letter-spacing: -.25pt;display: inline;"> </div>Ph<div style="letter-spacing: -.1pt;display: inline;"> </div>D&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President and Chief
Executive Officer &#8211; Investment Management </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Matthew<div style="letter-spacing: -.1pt;display: inline;"> </div>Hinkle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Executive Officer &#8211; Finance and<div style="letter-spacing: -.45pt;display: inline;"> </div>Administration</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Robert<div style="letter-spacing: -.1pt;display: inline;"> </div>G.<div style="letter-spacing: -.15pt;display: inline;"> </div>Kubilis&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Financial Officer and Chief Accounting Officer and<div style="letter-spacing: -.65pt;display: inline;"> </div>Treasurer</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<h1 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 28.0pt">FRANKLIN MUTUAL SERIES FUNDS</h1>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 27.95pt;margin-right: 127.8pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Christian
Correa&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief Executive Officer &#8211; Investment Management </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 27.95pt;margin-right: 127.8pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Matthew<div style="letter-spacing: -.1pt;display: inline;"> </div>Hinkle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Executive Officer &#8211; Finance and Administration </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 27.95pt;margin-right: 127.8pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Robert<div style="letter-spacing: -.1pt;display: inline;"> </div>G.<div style="letter-spacing: -.15pt;display: inline;"> </div>Kubilis&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Financial Officer and Chief Accounting<div style="letter-spacing: -.85pt;display: inline;"> </div>Officer</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 12.5pt;display: inline;">&#160;</div></div>

<h1 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 28.0pt">FRANKLIN ALTERNATIVE STRATEGIES FUNDS</h1>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 12.0pt;display: inline;">&#160;</div></b></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Brooks<div style="letter-spacing: -.15pt;display: inline;"> </div>Ritchey&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President
and Chief Executive Officer &#8211; Investment Management </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Matthew<div style="letter-spacing: -.1pt;display: inline;"> </div>Hinkle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Executive Officer &#8211; Finance and<div style="letter-spacing: -.45pt;display: inline;"> </div>Administration</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;line-height: 11.5pt;margin-left: 27.95pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Robert<div style="letter-spacing: -.1pt;display: inline;">
</div>G.<div style="letter-spacing: -.1pt;display: inline;"> </div>Kubilis&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Financial Officer, Chief Accounting Officer and<div style="letter-spacing: -.6pt;display: inline;"> </div>Treasurer</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 14.0pt;display: inline;">&#160;</div></div>

<h1 style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 28.0pt">TEMPLETON GROUP OF FUNDS</h1>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;line-height: 11.5pt;margin-left: 28.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Rupert H.<div style="letter-spacing: -.15pt;display: inline;"> </div>Johnson<div style="letter-spacing: -.1pt;display: inline;"> </div>Jr.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chairman
of the Board and Vice<div style="letter-spacing: -.4pt;display: inline;"> </div>President</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Manraj<div style="letter-spacing: -.1pt;display: inline;"> </div>S.<div style="letter-spacing: -.15pt;display: inline;"> </div>Sekhon&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President and
Chief Executive Officer &#8211; Investment Management </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Michael Hasenstab, Ph.D.&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160; President and Chief
Executive Officer &#8211; Investment Management </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Alan<div style="letter-spacing: -.15pt;display: inline;"> </div>Bartlett&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President
and Chief Executive Officer &#8211; Investment Management </div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 74.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Matthew<div style="letter-spacing: -.1pt;display: inline;"> </div>Hinkle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Executive Officer &#8211; Finance and<div style="letter-spacing: -.45pt;display: inline;"> </div>Administration</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Robert<div style="letter-spacing: -.1pt;display: inline;"> </div>G.<div style="letter-spacing: -.1pt;display: inline;"> </div>Kubilis&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Financial Officer, Chief Accounting Officer and<div style="letter-spacing: -.6pt;display: inline;"> </div>Treasurer</div></div>

</div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,sans-serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection8">

<h1 align="center" style="text-autospace: none;font-size: 12.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: center;text-indent: -.05pt;line-height: 186%;margin-top: 4.0pt;margin-right: 191.25pt;margin-bottom: .0001pt;margin-left: 181.35pt">Exhibit B ACKNOWLEDGMENT FORM</h1>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><b><div style="font-size: 11.5pt;display: inline;">&#160;</div></b></div>

<h3 style="text-align: center;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 0in;margin-right: 117.5pt;margin-bottom: .0001pt;margin-left: 107.65pt">Franklin Templeton Funds
Code of Ethics</h3>

<div align="center" style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: center;margin-left: 107.65pt;margin-right: 114.6pt;margin-top: 0in;margin-bottom: .0001pt"><b>For
Principal Executives and Senior Financial Officers</b></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 12.0pt;display: inline;">&#160;</div></b></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<h3 align="left" style="text-align: left;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 28.0pt">Instructions:</h3>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 46.0pt">1.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;
</div>Complete all sections of this<div style="letter-spacing: -.1pt;display: inline;"> </div>form.</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 12.65pt;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 46.0pt">2.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160; </div>Print
the completed form, sign, and<div style="letter-spacing: -.05pt;display: inline;"> </div>date.</div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 97%;margin-top: .25pt;margin-right: 40.9pt;margin-bottom: .0001pt;margin-left: 46.0pt"><div style="font-size: 12.0pt;line-height: 97%;display: inline;">3.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;
</div></div>Submit completed form to FT&#8217;s General Counsel c/o Code of Ethics
Administration within 10 </div>

<div style="text-indent: -.25in;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 97%;margin-top: .25pt;margin-right: 40.9pt;margin-bottom: .0001pt;margin-left: 46.0pt"><div style="font-size: 12.0pt;line-height: 97%;display: inline;">4.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;
</div></div>days of becoming a Covered Officer and by February 15<div style="font-size: 7.0pt;line-height: 97%;position: relative;top: -3.5pt;display: inline;">th </div>of
each subsequent<div style="letter-spacing: -1.4pt;display: inline;"> </div>year.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .1pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-indent: -54.05pt;margin-left: 100.0pt;margin-right: 166.05pt;margin-top: 0in;margin-bottom: .0001pt"><b>E-mail:&#160;&#160;&#160;&#160;&#160; </b>Code
of Ethics Inquiries &amp; Requests (internal address);<div style="color: windowtext;text-decoration: none;display: inline;"> lpreclear@franklintempleton.com </div>(external<div style="letter-spacing: -.25pt;display: inline;"> </div>address)</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 11.5pt;display: inline;">&#160;</div></div>

<table border="1" cellspacing="0" cellpadding="0" style="border-collapse: collapse;border: none;margin-left: 5.85pt">
 <tr style="height: 20.65pt">
  <td width="198" valign="top" style="width: 148.5pt;border: solid black 1.0pt;padding: 0in 0in 0in 0in;height: 20.65pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 5.35pt;margin-right: 0in;margin-top: 4.0pt;margin-bottom: .0001pt"><b>Covered Officer&#8217;s Name:</b></div>
  </td>
  <td width="498" valign="top" style="width: 373.5pt;border: solid black 1.0pt;border-left: none;padding: 0in 0in 0in 0in;height: 20.65pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>
  </td>
 </tr>
 <tr style="height: 21.05pt">
  <td width="198" valign="top" style="width: 148.5pt;border: solid black 1.0pt;border-top: none;padding: 0in 0in 0in 0in;height: 21.05pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 5.35pt;margin-right: 0in;margin-top: 4.15pt;margin-bottom: .0001pt"><b>Title:</b></div>
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  <td width="498" valign="top" style="width: 373.5pt;border-top: none;border-left: none;border-bottom: solid black 1.0pt;border-right: solid black 1.0pt;padding: 0in 0in 0in 0in;height: 21.05pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>
  </td>
 </tr>
 <tr style="height: 26.25pt">
  <td width="198" valign="top" style="width: 148.5pt;border: solid black 1.0pt;border-top: none;padding: 0in 0in 0in 0in;height: 26.25pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 5.35pt;margin-right: 0in;margin-top: 6.75pt;margin-bottom: .0001pt"><b>Department:</b></div>
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  <td width="498" valign="top" style="width: 373.5pt;border-top: none;border-left: none;border-bottom: solid black 1.0pt;border-right: solid black 1.0pt;padding: 0in 0in 0in 0in;height: 26.25pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>
  </td>
 </tr>
 <tr style="height: 23.55pt">
  <td width="198" valign="top" style="width: 148.5pt;border: solid black 1.0pt;border-top: none;padding: 0in 0in 0in 0in;height: 23.55pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 5.35pt;margin-right: 0in;margin-top: 5.45pt;margin-bottom: .0001pt"><b>Location:</b></div>
  </td>
  <td width="498" valign="top" style="width: 373.5pt;border-top: none;border-left: none;border-bottom: solid black 1.0pt;border-right: solid black 1.0pt;padding: 0in 0in 0in 0in;height: 23.55pt">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>
  </td>
 </tr>
 <tr style="height: .35in">
  <td width="198" valign="top" style="width: 148.5pt;border: solid black 1.0pt;border-top: none;padding: 0in 0in 0in 0in;height: .35in">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;line-height: 12.7pt;margin-left: 5.35pt;margin-right: 32.55pt;margin-top: .15pt;margin-bottom: .0001pt"><b>Certification
  for Year Ending:</b></div>
  </td>
  <td width="498" valign="top" style="width: 373.5pt;border-top: none;border-left: none;border-bottom: solid black 1.0pt;border-right: solid black 1.0pt;padding: 0in 0in 0in 0in;height: .35in">
  <div style="mso-style-name: &quot;Table Paragraph&quot;;text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>
  </td>
 </tr>
</table>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .05pt;margin-bottom: .0001pt"><div style="font-size: 8.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 28.0pt;margin-right: 0in;margin-top: 4.6pt;margin-bottom: .0001pt"><b><i>To: Franklin
Resources General Counsel, Legal Department</i></b></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .05pt;margin-bottom: .0001pt"><b><i>&#160;</i></b></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: justify;margin-left: 27.95pt;margin-right: 37.9pt;margin-top: 0in;margin-bottom: .0001pt">I acknowledge
receiving, reading and understanding the Franklin Templeton Fund&#8217;s Code of
Ethics for Principal Executive Officers and Senior Financial Officers (the
&#8220;Code&#8221;). I will comply fully with all provisions of the Code to the extent they
apply to me during the period of my employment. I further understand and
acknowledge that any violation of the Code may subject me to disciplinary
action, including termination of employment.</div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt">

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  <td width="132" height="0"></td>
  <td width="233"></td>
  <td width="67"></td>
  <td width="280"></td>
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<br clear="ALL">


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  <div align="right" style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: right;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><i><div style="font-size: 10.0pt;display: inline;">Signature</div></i></b></div>
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  <td width="236" valign="top" style="width: 177.85pt;padding: 0in 5.4pt 0in 5.4pt">
  <div align="center" style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;text-align: center;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><i><div style="font-size: 10.0pt;display: inline;">&#160;</div></i></b></div>
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  <div style="text-autospace: none;font-size: 11.0pt;font-family: &quot;Arial&quot;,sans-serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><i><div style="font-size: 10.0pt;display: inline;">Date signed</div></i></b></div>
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</div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>3
<FILENAME>tgif302.htm
<TEXT>
<html><head></head><body><div style="page: WordSection1">

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">I, Matthew T. Hinkle, certify that:</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">1. I have reviewed this report on
Form N-CSR of <b>Templeton Global Income Fund</b>;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">2. Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report; <b>&#160;</b>&#160;</div>

<div style="mso-style-link: &quot;Body Text Indent Char&quot;;text-align: justify;text-indent: .25in;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 0in"><div style="font-size: 11.0pt;display: inline;">3. Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the
registrant as of, and for, the periods presented in this report;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">4. The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of
1940) for the registrant and have:</div>

<div style="mso-style-link: &quot;Body Text Indent 2 Char&quot;;text-align: justify;text-indent: .25in;font-size: 11.5pt;font-family: &quot;Times New Roman&quot;,serif;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 0in"><div style="font-size: 11.0pt;display: inline;">(a) Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this report is being prepared;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(b) Designed
such internal control over financial reporting, or caused such internal control
over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;line-height: 50%;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(c) Evaluated
the effectiveness of the registrant's disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of a date within 90 days prior to the
filing date of this report based on such evaluation; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;line-height: 50%;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(d) Disclosed
in this report any change in the registrant&#8217;s internal control over financial
reporting that occurred during the second fiscal quarter of the period covered
by this report that has materially affected, or is reasonably likely to
materially affect, the registrant&#8217;s internal control over financial reporting;
and&#160; </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">5. The
registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">(a) All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant's ability to record, process, summarize, and
report financial information; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">(b) Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the registrant's internal control over financial reporting.</div>

<div style="mso-style-link: &quot;Plain Text Char&quot;;font-size: 10.0pt;font-family: &quot;Courier New&quot;;text-align: justify;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 11.0pt;line-height: 50%;font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">8/25/2021</div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">S\MATTHEW T. HINKLE</div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 12.0pt;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;display: inline;">&#160;</div></b></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Matthew T. Hinkle</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Chief Executive Officer - Finance and Administration </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection2">

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">I, Robert G. Kubilis, certify that:</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">1. I have reviewed this report on
Form N-CSR of <b>Templeton Global Income Fund</b>;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">2. Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report; <b>&#160;</b>&#160;</div>

<div style="mso-style-link: &quot;Body Text Indent Char&quot;;text-align: justify;text-indent: .25in;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 0in"><div style="font-size: 11.0pt;display: inline;">3. Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the
registrant as of, and for, the periods presented in this report;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">4. The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of
1940) for the registrant and have:</div>

<div style="mso-style-link: &quot;Body Text Indent 2 Char&quot;;text-align: justify;text-indent: .25in;font-size: 11.5pt;font-family: &quot;Times New Roman&quot;,serif;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 0in"><div style="font-size: 11.0pt;display: inline;">(a) Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this report is being prepared;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(b) Designed
such internal control over financial reporting, or caused such internal control
over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;line-height: 50%;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(c) Evaluated
the effectiveness of the registrant's disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of a date within 90 days prior to the
filing date of this report based on such evaluation; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;line-height: 50%;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(d) Disclosed
in this report any change in the registrant&#8217;s internal control over financial
reporting that occurred during the second fiscal quarter of the period covered
by this report that has materially affected, or is reasonably likely to
materially affect, the registrant&#8217;s internal control over financial reporting;
and&#160; </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">5. The
registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">(a) All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant's ability to record, process, summarize, and
report financial information; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">(b) Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the registrant's internal control over financial reporting.</div>

<div style="mso-style-link: &quot;Plain Text Char&quot;;font-size: 10.0pt;font-family: &quot;Courier New&quot;;text-align: justify;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 11.0pt;line-height: 50%;font-family: &quot;Times New Roman&quot;,serif;display: inline;">&#160;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">8/25/2021</div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">S\ROBERT G. KUBILIS</div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 12.0pt;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;display: inline;">&#160;</div></b></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Robert G. Kubilis</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Chief Financial Officer and Chief Accounting Officer </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

</div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>4
<FILENAME>tgif906.htm
<TEXT>
<html><head></head><body><div style="page: WordSection1">

<div style="mso-style-link: &quot;Title Char&quot;;text-align: center;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;font-weight: bold;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350</div>

<div align="center" style="text-align: center;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>AS ADOPTED
PURSUANT TO SECTION 906</b></div>

<h1 style="mso-style-link: &quot;Heading 1 Char&quot;;text-align: center;page-break-after: avoid;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">OF THE SARBANES-OXLEY ACT OF 2002</h1>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">I, Matthew T. Hinkle, Chief Executive Officer of the <b>Templeton
Global Income Fund</b> (the &#8220;Registrant&#8221;), certify, pursuant to 18 U.S.C.
Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, that, to my knowledge:</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div align="left" style="text-align: left;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: -.5in;margin-left: .75in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">1.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>The periodic report on Form N-CSR of the Registrant for the period ended
6/30/2021 (the &#8220;Form N-CSR&#8221;) fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div align="left" style="text-align: left;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;text-indent: -.5in;margin-left: .75in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">2.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>The information contained in the Form N-CSR fairly presents, in all
material respects, the financial condition and results of operations of the
Registrant.</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Dated:&#160; 8/25/2021</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; S\MATTHEW T.
HINKLE</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Matthew T.
Hinkle </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 2.0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Chief Executive Officer - Finance
and Administration</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 2.0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection2">

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="mso-style-link: &quot;Title Char&quot;;text-align: center;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;font-weight: bold;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350</div>

<div align="center" style="text-align: center;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>AS ADOPTED PURSUANT
TO SECTION 906</b></div>

<h1 style="mso-style-link: &quot;Heading 1 Char&quot;;text-align: center;page-break-after: avoid;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">OF THE SARBANES-OXLEY ACT OF 2002</h1>

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<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">I, Robert G. Kubilis, Chief Financial Officer of the <b>Templeton
Global Income Fund</b> (the &#8220;Registrant&#8221;), certify, pursuant to 18 U.S.C.
Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, that, to my knowledge:</div>

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</div>The periodic report on Form N-CSR of the Registrant for the period ended
6/30/2021 (the &#8220;Form N-CSR&#8221;) fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>

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</div>The information contained in the Form N-CSR fairly presents, in all
material respects, the financial condition and results of operations of the
Registrant.</div>

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<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Dated:&#160; 8/25/2021</div>

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<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,serif;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; S\ROBERT G.
KUBILIS</div>

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Kubilis </div>

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Accounting Officer</div>

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