Investment management is our business. The only revenue received is revenue paid by our clients. We do not charge investment firms a fee for our evaluation services and we do not permit them to compensate our analysts in any way. Investment management research is generated solely for the benefit of our clients and is never sold or released to outside organizations. Halite has created strict policies and procedures to protect our clients from potential conflicts and to maintain the independence of our manager research function. We exemplify what it means to be a fiduciary. We refuse to engage in any activity or relationship that might jeopardize our conflict-free business model.