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*all data as of December 31, 2016.

Insight is the corporate brand for certain companies operated by Insight Investment Management Limited (IIML). Insight includes, among others, Insight Management (Global) Limited (IIMG), Pareto Investment Management Limited (PIML), Cutwater Asset Management Corp. (CAMC) Cutwater Investor Services Corp. (CISC) and Insight North America LLC (INA), each of which provides asset management services.
INA, CISC, CAMC and PIML each provide asset management services. INA, CISC and CAMC are investment advisers registered with the Securities and Exchange Commission (SEC) each with its principal place of business at 200 Park Avenue, New York, NY, 10166.  PIML is an investment adviser registered with the SEC and is authorised and regulated by the Financial Conduct Authority (no. 416024). Registered in England and Wales. Registered number: 03169281. Registered office: 160 Queen Victoria Street London EC4V 4LA, UK. INA, CISC and PIML are each is also registered with the CFTC as a Commodity Trading Advisor and Commodity Pool Operator and each is a member of the National Futures Association (NFA).  INA is registered as an investment adviser with the SEC and with the CFTC as a Commodity Trading Advisor and is a member of the NFA.All entities are wholly owned subsidiaries of the Bank of New York Mellon Corporation. 

** Insight is pleased to present you with the attached article which may be printed for personal use; however, it is not to be distributed further (either electronically or in hard copy format) without the express permission of the publisher. This text has been taken from a third party publication; hence, Insight makes no representation regarding its accuracy or completeness. Any content provided is not intended to provide advice and should not be considered as an offer, or solicitation to an offer, to buy or sell any security or investment by Insight or any of its affiliates, including its parent company, The Bank of New York Mellon (BNY Mellon). Neither BNY Mellon nor Insight has been involved in the preparation or editing of this third-party content and the opinions expressed do not necessarily represent the view of Insight or BNY Mellon. References to assets under management (AUM) are represented by the value of cash securities and other economic exposure managed for clients and reflects the AUM of Insight.