<RXU# 5DGLR6KDFN# 'LJLWDO# 5RERWLF# :DWFK# FRPELQHV# DQ# DGYDQFHG/
LQWHOOLJHQW#GHVLJQ#ZLWK#KLS#KRS#IXQFWLRQ1#7KLV#ZDWFK#DOPRVW#KDV#D
PLQG#RI#LWV#RZQ1#<RX#FDQ#DVN#WKH#ZDWFK#WR#GLVSOD\#ZKLFK#GLUHFWLRQ
\RX# VKRXOG# JR/# DV# ZHOO# DV# WR# DQVZHU# VLPSOH# \HV# RU# QR# TXHVWLRQV1
6RPHWLPHV# LW# RSHUDWHV# SURSHUO\/# RWKHU# WLPHV# LW# UHIXVHV# WR# UH0
VSRQG#DW#DOO$#6KDNH#WKH#ZDWFK#DW#\RXU#RZQ#SHULO#³#LW#EHFRPHV#DQ0
JU\#DQG#UHIXVHV#WR#GLVSOD\#WKH#FXUUHQW#WLPH$#7KH#ZDWFK·V#RWKHU
IHDWXUHV#LQFOXGH=
6SKHULFDO#'RW#0DWUL[#/LTXLG#&U\VWDO#'LVSOD\#³#JLYHV#WKH#ZDWFK
D#IXQN\#IXWXULVWLF#ORRN#DQG#IHHO1
7KUHH# 5RERWLF# $ODUP# 6RXQGV#³#DOHUW#\RX#DW#WKH#VHW#WLPH#ZLWK
RQH#RI#WKUHH#GLIIHUHQW#DODUP#VRXQGV1
7LPH#DQG#'DWH#'LVSOD\#³#VKRZV#WKH#FXUUHQW#WLPH#DQG#GDWH1
6RXQG# (IIHFW# ³#\RX#FDQ#WXUQ# WKH# ZDWFK·V# VRXQG#HIIHFWV# RQ#RU
RII1
6HOI# 'LDJQRVLV# ³# ZKHQ#OHIW#DORQH# IRU# VHYHUDO# KRXUV/# WKH#ZDWFK
UXQV#D#SUHWHQG#VHOI0GLDJQRVWLF#WHVW#RQ#YDULRXV#IXQFWLRQV/#WKHQ#UH0
WXUQV#WR#QRUPDO#RSHUDWLRQ1
FD:?8ïE96ï4@?EC@=D
FD:?8ïE96ï4@?EC@=D
FD:?8ïE96ï4@?EC@=D
FD:?8ïE96ï4@?EC@=D
7LPH#'LVSOD\#%XWWRQ#+ULJKW#EXWWRQ,#³#SUHVV#WR#GLVSOD\#WKH#FXU0
UHQW#WLPH/#GDWH/#DQG#GD\#RI#WKH#ZHHN/#RU#SUHVV#WR#VHOHFW#WKH#GH0
VLUHG#VHWWLQJ1
0RGH# %XWWRQ# +OHIW# EXWWRQ,# ³# SUHVV# WR# DFFHVV# GHFLVLRQ0PDNLQJ
PRGH/#GLUHFWLRQ#PRGH/#DODUP#VHWWLQJ#PRGH/#WLPH0VHWWLQJ#PRGH/#RU
VRXQG#PRGH1
7KUHH# ,QGLFDWRUV# ³# IODVK# DXWRPDWLFDOO\# HDFK# WLPH# \RX# SUHVV# D
EXWWRQ/#RU#UDQGRPO\#DW#LQWHUPLWWHQW#WLPHV1
(DFK#WLPH#\RX#SUHVV#D#EXWWRQ/#WKH#ZDWFK#VRXQGV#D#NH\#WRQH1
F?56CDE2?5:?8ïE96
F?56CDE2?5:?8ïE96
F?56CDE2?5:?8ïE96
F?56CDE2?5:?8ïE96
,FRQ
D6EE:?8ïE96ïE:>6ï2?5ï52E6
D6EE:?8ïE96ïE:>6ï2?5ï52E6
D6EE:?8ïE96ïE:>6ï2?5ï52E6
D6EE:?8ïE96ïE:>6ï2?5ï52E6
1RWHV=# :KLOH# VHWWLQJ# WKH# WLPH# DQG# GDWH/# LI# \RX# GR# QRW# SUHVV# D
EXWWRQ#IRU#DERXW#5#VHFRQGV/#WKH#GLVSOD\#UHWXUQV#WR#VWDQGE\1
41 5HSHDWHGO\#SUHVV#WKH#PRGH#EXWWRQ#XQWLO#WKH#WLPH#VHW#LFRQ#
DSSHDUV1#
ï ï ï ï
:4@?D
:4@?D
:4@?D
:4@?D
'HVFULSWLRQ
$ODUP#6HW#,FRQ
'LUHFWLRQ#,FRQ
'HFLVLRQ#,FRQ
6RXQG#2Q#,FRQ
6RXQG#2II#,FRQ
7LPH#6HW#,FRQ
5ZXZeR]ïC`S`eZTïHReTY
5ZXZeR]ïC`S`eZTïHReTY
5ZXZeR]ïC`S`eZTïHReTY
5ZXZeR]ïC`S`eZTïHReTY
2:1(5·6#0$18$/#³#3OHDVH#UHDG#EHIRUH#XVLQJ#WKLV#HTXLSPHQW1
51 3UHVV#WKH#WLPH#GLVSOD\#EXWWRQ1#7KH#ILUVW#KRXU#GLJLW#IODVKHV1#
61 5HSHDWHGO\#SUHVV#WKH#WLPH#GLVSOD\#EXWWRQ#XQWLO#WKH#GHVLUHG#
KRXU#GLJLWV#DSSHDU1#3UHVV#WKH#PRGH#EXWWRQ#DIWHU#WKH#GHVLUHG#
GLJLW#DSSHDUV#WR#VWRUH#WKDW#GLJLW#LQ#PHPRU\1#'R#WKH#VDPH#IRU#
WKH#PLQXWH#GLJLWV1
71 $IWHU#VWRULQJ#WKH#FXUUHQW#WLPH#LQ#PHPRU\/#
IODVKHV1#5HSHDWHGO\#SUHVV#WKH#WLPH#GLVSOD\#EXWWRQ#WR#VHOHFW#
HLWKHU#$0#RU#30#KRXUV1#3UHVV#WKH#PRGH#EXWWRQ#WR#VWRUH#WKH#
WLPH#VHWWLQJ1#7KH#\HDU#DSSHDUV1
81 5HSHDWHGO\#SUHVV#WKH#WLPH#GLVSOD\#EXWWRQ#WR#VHW#WKH#GHVLUHG#
\HDU/#PRQWK/#DQG#GD\#VHWWLQJV1#3UHVV#WKH#PRGH#EXWWRQ#WR#
VWRUH#HDFK#VHWWLQJ#LQ#PHPRU\1#7KH#WLPH#VHW#LFRQ#DSSHDUV/#
WKHQ#WKH#GLVSOD\#UHWXUQV#WR#VWDQGE\1
7R#YLHZ#WKH#FXUUHQW#WLPH/#GDWH/#DQG#GD\#RI#WKH#ZHHN/#UHSHDWHGO\
SUHVV#WKH#WLPH#GLVSOD\#EXWWRQ1
DVeeZ_XïeYVï2]Rc^ïEZ^V
DVeeZ_XïeYVï2]Rc^ïEZ^V
DVeeZ_XïeYVï2]Rc^ïEZ^V
DVeeZ_XïeYVï2]Rc^ïEZ^V
1RWH=#:KLOH#VHWWLQJ#WKH#DODUP/#LI#\RX#GR#QRW#SUHVV#D#EXWWRQ#IRU
DERXW#5#VHFRQGV/#WKH#GLVSOD\#UHWXUQV#WR#VWDQGE\1
41 5HSHDWHGO\#SUHVV#WKH#PRGH#EXWWRQ#XQWLO#WKH#DODUP#VHW#LFRQ#
DSSHDUV1#7KHQ#SUHVV#WKH#WLPH#GLVSOD\#EXWWRQ1#7KH#ILUVW#KRXU#
GLJLW#IODVKHV1
51 5HSHDWHGO\#SUHVV#WKH#WLPH#GLVSOD\#EXWWRQ#WR#VHW#WKH#GHVLUHG#
KRXU#DQG#PLQXWH#GLJLWV1#
3UHVV#WKH#PRGH#EXWWRQ#DIWHU#WKH#GHVLUHG#GLJLW#DSSHDUV#WR#
VWRUH#WKDW#GLJLW#LQ#PHPRU\1#
61 $IWHU#VWRULQJ#WKH#FXUUHQW#DODUP#WLPH#LQ#PHPRU\/#
IODVKHV1#5HSHDWHGO\#SUHVV#WKH#WLPH#GLVSOD\#EXWWRQ#WR#VHOHFW#
HLWKHU#$0#RU#30#KRXUV1#3UHVV#WKH#PRGH#EXWWRQ#WR#VWRUH#WKH#
GHVLUHG#WLPH#VHWWLQJ#LQ#PHPRU\1
71 5HSHDWHGO\#SUHVV#WKH#WLPH#GLVSOD\#EXWWRQ#WR#VHOHFW#WKH#
GHVLUHG#DODUP#VRXQG#RU#WR#WXUQ#RII#WKH#DODUP1#
81 3UHVV#WKH#PRGH#EXWWRQ#WR#VWRUH#WKH#VHWWLQJ#LQ#PHPRU\1
:KHQ# WKH# ZDWFK# UHDFKHV# WKH# VHW# DODUP# WLPH/# WKH# DODUP# VRXQGV
IRU#D#IHZ#VHFRQGV#+GHSHQGLQJ#RQ#WKH#VHOHFWHG#DODUP#VRXQG,1#
1RWH=#7KH#DODUP#VRXQGV#DW#WKH#VHW#WLPH/#HYHQ#LI#\RX#WXUQ#RII#WKH
VRXQG#HIIHFWV1
EFC?:?8ïE96ïD@F?5ï@? @77
EFC?:?8ïE96ïD@F?5ï@? @77
EFC?:?8ïE96ïD@F?5ï@? @77
EFC?:?8ïE96ïD@F?5ï@? @77
7R# WXUQ# WKH# ZDWFK·V# VRXQG# HIIHFWV# RQ# RU# RII/# UHSHDWHGO\# SUHVV
WKH# PRGH# EXWWRQ# XQWLO# D# VRXQG# LFRQ# DSSHDUV# +VRXQG# RQ# RU# VRXQG
RII,1# 5HSHDWHGO\# SUHVV# WKH# WLPH# GLVSOD\# EXWWRQ# VR# WKH# GHVLUHG
VRXQG#LFRQ#DSSHDUV1#
(YHQ#ZKHQ#VRXQG#HIIHFWV#DUH#WXUQHG#RII/#WKH#NH\#WRQH#DQG#DODUP
VRXQG1
‹
#5333#7DQG\#&RUSRUDWLRQ1
$OO#5LJKWV#5HVHUYHG1
5DGLR6KDFN#DQG#5DGLR6KDFN1FRP#DUH#WUDGHPDUNV#XVHG#E\#7DQG\#&RUSRUDWLRQ1
$0
30
#RU#
#
$0
30
#RU#
#