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¹ The statements above reflect the views and opinions of only PSG as of the date hereof and not as of any future date. The specific approach mentioned herein has not been evaluated or tested by an independent third party.

² Philips, Thomas K. and Yashchin, Emmanuel and Stein, David M., Using Statistical Process Control to Monitor Active Managers (January 17, 2003). 

Diversification does not eliminate the risk of loss.

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