Third-Party Terms

In addition to the rights and restrictions set forth in agreement(s) that you have entered into with FactSet, your use of FactSet services is subject to the additional terms and conditions imposed by third-party data providers regarding use of their data.

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Aspect Huntley

Copyright

© Copyright Huntleys Investment Information Pty Ltd.  All rights reserved. No material may be reproduced, except as allowed by the Copyright Act, without the prior written approval of Huntleys Investment Information Pty Limited (“HII”). Some of the material provided by HII is copyright and is published under licence from ASX Operations Pty Limited ACN 004 523 782 (“ASXO”). Beta information is derived from information supplied by the Centre for Research in Finance, AGSM Limited. Consensus forecast data is copyright Thomson Financial. All rights reserved

Disclaimer

• The information provided by HII has not been prepared by taking into account the particular investment objectives, financial situation and particular needs of any individual investors. It is a general information service only. You should assess whether it is appropriate in light of your own individual investment objectives, financial situation and particular needs. If necessary, you should consult with a licensed investment adviser or dealer in securities such as a stockbroker before making an investment decision.
• None of the information provided by HII constitutes, and must not be construed as, an offer of securities or other financial instruments. Nor is it an invitation to you to take up securities or other financial products. Nor is it a recommendation to deal in any securities or other financial products.
• Use of the information provided by HII is at your own risk. HII is not responsible for any adverse consequences arising out of the use of the product.
• HII believes that all information provided by it in this website is accurate and reliable, but gives no warranty of accuracy or reliability of such information to you or to any third party. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by HII, whether arising from negligence or otherwise from the use of or results obtained from material supplied by HII. Nor, to the extent permitted by law, is ASXO liable for any loss, damage, cost or expense suffered by any person, whether arising from negligence or otherwise from the use of or results obtained from material supplied by ASXO.
• HII will not be liable for damage or loss resulting from any delay in operation or transmission, virus, communications failure, Internet access difficulties or malfunction in equipment or software.
• Officers and employees of HII (or their associates) may hold interests in securities reviewed in this website.

Copyright Huntleys' Investment Information Pty. Limited (HII) (a wholly owned subsidiary of Aspect Huntley Pty Limited), . All rights reserved. Australian Financial Services Licence no. 240892. No material may be reproduced, except as allowed by the Copyright Act, without the prior written approval of HII. Some of the material provided by HII is copyright and is published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Consensus forecast data is copyright Thomson Financial.

DISCLAIMER: While the above-mentioned advice and information are based on information, which HII consider reliable, its accuracy and completeness cannot be guaranteed. This report is made without consideration of any specific clients investment objectives, financial situation or particular needs. Those acting upon such information do so entirely at their own risk.

DISCLOSURE: The directors and associated persons or entities of HII may have an interest in the securities discussed in this report.

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Barclays Capital Indices

On 3-Nov-2008, Barclays Capital announced that it fully integrated Lehman Brothers' US fixed income businesses under the Barclays Capital name. The fixed income businesses include Interest Rates, Credit, Securitized Products, and Primary Fixed Income Products.

Subscribers of Barclays Capital Indices data agree that they shall not sell, republish, or transmit the Indices or any data in any form, by any means, to any other party, without the prior written consent of Barclays. Launch the original Lehman PDF document below for details.

Lehman Terms of Governing Use

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BBA LIBOR

In consideration for BBA Enterprises Limited ("BBAE") coordinating and the BBA LIBOR Contributor Banks and Reuters (the "Suppliers") supplying the data from which BBA LIBOR is compiled, the subscriber acknowledges and agrees that, to the fullest extent permitted by law, none of BBAE or the Suppliers:

1. accept any responsibility or liability for the frequency of provision and accuracy of the BBA LIBOR rate or any use made of the BBA LIBOR rate by the subscriber, whether or not arising from the negligence of any of BBAE or the Suppliers; or
2. shall be liable for any loss of business or profits nor any direct, indirect or consequential loss or damage resulting from any such irregularity, inaccuracy or use of the Information.

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BOAT Terms & Conditions

Access to and use of the BOAT Real-Time and/or Delayed Data (“Services”) provided by BOAT Services Limited (“BOAT”) to you (“Customer”) via vendor (“Vendor”) is subject to and govern solely by the following terms and conditions:

1. License. Customer and its End Users are granted a personal, non-exclusive, revocable, non-transferable, non sub-licensable, license to use the Services for its internal business purposes. “End User” means any individual recipient of the Services who is from time to time authorized by Customer to access and use the Services.

2. Term and Termination. The term and termination provisions relating to Customer’s access to, and use of, the Services, are as agreed between Customer and Vendor, provided Customer’s access to the Services may be terminated or suspended immediately in respect of any breach of these terms by Customer and/or End User.

3. Prohibited Uses. Customer and End User are prohibited from the following:

3.1 distributing, transferring, sub-licensing, renting, lending, transmitting, selling, re-circulating, repackaging, assigning, leasing, reselling, publishing or making available all or any portion of the Services;

3.2 using the Services to develop, create or directly price any index (e.g., any composite financial index), data feed services, valuations services to third parties or any database or service that competes directly with the Services or any other BOAT service offered in the market place or that would create a substitute for any such BOAT service. For the avoidance of doubt, the Services shall not be used in any index or to create, price or calculate indices or any similar derivative product (including but not limited to “baskets” and “strategies”). For example, a total return index on the trading strategy or total return of investment strategy in relation to a structured product whose performance is based on a quantitative trading strategy, and the daily/weekly NAV or redemption value together with the Services are used to calculate such index; and

3.3 using the Services for any illegal purpose or contrary to the laws applicable in the jurisdictions where Customer or End Users operates or applicable to supply and use of the Services.

4. Limited Permitted Use. Customer and End User are permitted to reproduce non-systematic and limited excerpts from Services in documents for distribution to their clients or potential clients in graphical format only for viewing, not reproduced or republished by the Customer and End User in any format that would enable the recipient to incorporate the Services in a database of their own. Customer and End User may also create and include “Derived Data” in its periodic or ad-hoc reports to its clients. “Derived Data” shall mean, for the purposes of these terms and conditions only, data that Customer and/or End User have developed through a process in conjunction with additional third party data and professional experience, such that the Derived Data: (i) cannot be identified or reverse-engineered as originating or directly derived from the Services; (ii) includes an amount of the Services that has no independent commercial value; (iii) is not separately marketed by Customer; (iv) could not be used by its recipients as a substitute for the Services or any part of it; (v) has no commercial value in its own right, irrespective of whether that value is realised by the Customer or not; and (vi) the distribution of Derived Data is only of supportive nature to Customer and End User’s services (for example – report on End User’s performance) and does not constitute a service that End User’s clients may subscribe for.

5. Intellectual Property. All copyright, database rights, trade marks, patents, rights of privacy or publicity and other proprietary or intellectual property rights (including all models, software, data and any materials) comprised in all or any of the Services, or their provision, and all enhancements, modifications or additional services thereto, are and will be the exclusive property of BOAT. Customer will not use the same (including copying, reverse engineering or disclosing it to any person, for any purpose whatsoever) and will not remove or deface any trademarks associated with the Services;

6. Disclaimer. The Services distributed to Customer and End User shall be on “as is” basis. Neither Vendor, BOAT, its affiliates nor any third party data provider makes any warranty, express or implied, as to the accuracy or completeness of the Services or as to the results to be attained by Customer and End User or others from the use of the Services. Customer and its End Users hereby acknowledge that there are no express or implied warranties of title, merchantability or fitness for a particular purpose or use, and that it has not relied upon any warranty, guaranty or representation made by BOAT, its affiliates or any Data Provider. The Customer and End User are bound to any legends, disclaimers, and notices appearing from time to time in the Services;

7. Liability. Neither Vendor, BOAT, its affiliates nor any Data Provider shall in any way be liable to Customer and End User or any client of Customer and End User for any inaccuracies, errors or omissions, regardless of cause, in the Services provided hereunder or for any damages (whether direct or indirect) resulting therefrom. Without limiting the foregoing, BOAT shall have no liability whatsoever to Customer and End User, whether in contract (including under an indemnity), in tort (including negligence), under a warranty, under statute or otherwise, in respect of any loss or damage suffered Customer and by End User as a result of or in connection with any opinions, recommendations, forecasts, judgments, or any other conclusions, or any course of action determined, by Customer and End User or any client of Customer and End User, whether or not based on the Services.

8. Indemnity. Customer will indemnify, defend and hold harmless BOAT and its affiliates from and against any and all losses, liabilities, damages, costs brought by any third party accessing of all or part of the Services through or by means of Subscriber.

9. Miscellaneous. The terms and conditions herein, solely in connection with the Services:

9.1 shall supersede any other terms between Customer and Vendor;

9.2 shall be for the benefit of BOAT, its data providers and its and their respective affiliates;

9.3 may not be amended unless agreed to in writing by BOAT; and

9.4 shall be governed by and construed under the laws of England and Wales and each party submits to the exclusive jurisdiction of the courts of England and Wales.

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Citigroup Fixed Income Indices

PLEASE READ THESE TERMS CAREFULLY. THEY GOVERN YOUR ACCESS TO AND USE OF CITIGROUP FIXED INCOME SECTOR LEVEL DATA (collectively, the “Index Data”) owned by Citigroup Index LLC ("CitiIndex"). References to “you” and “your” are both to you, as an individual, and to your firm as your employer. By accessing the Index Data, you acknowledge that you have read, understand and agree to be bound by these terms. If you do not agree to these terms, do not access or use the Index Data. (IF YOU ARE ACCESSING AND USING ISSUE OR CONSTITUENT LEVEL DATA, YOUR ACCESS AND USE OF SUCH DATA ARE GOVERNED BY THE TERMS OF A SEPARATE AGREEMENT BETWEEN YOU AND CITIINDEX).

You may only use the Index Data for your internal use and solely in connection with your business of investing in, monitoring, analyzing or trading securities. You shall not use the Index Data and/or any of its constituent indexes as components or benchmarks of financial instruments, contracts, or securities, whether publicly or privately issued, bought or sold, or to construct products that compete with the Index Data. You agree not to make the Index Data available to any third party other than in incidental amounts.

You acknowledge and agree that all title, rights and interests in and to the Index Data and all intellectual property rights (including copyright and trademark rights) and other proprietary rights in the Index Data are retained by CitiIndex and that, except as expressly provided herein, you shall have no rights with respect to the Index Data and you agree not to take any action inconsistent with the foregoing acknowledgment and agreement. You acknowledge that the Index Data are a valuable asset of CitiIndex developed by a considerable expenditure of CitiIndex effort, time and money. You shall not modify, adapt, translate, restructure, rearrange, reorganize, recompile, reformat, create derivative versions of, change or add to the Index Data and you shall not remove any copyright, proprietary rights or restrictive legends contained on the Index Data.

THE INDEX DATA IS PROVIDED TO YOU ON AN "AS IS" BASIS AND YOU AGREE THAT USE OF THE INDEX DATA IS AT YOUR SOLE RISK. CITIINDEX MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON OR ENTITY, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY, ORIGINALITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE INDEX DATA OR ANY OTHER MATTER AND NO WARRANTY IS GIVEN THAT THE INDEX DATA WILL CONFORM TO ANY DESCRIPTION THEREOF OR BE FREE OF OMISSIONS, ERRORS OR DEFECTS.

IN NO EVENT SHALL CITIINDEX BE LIABLE TO YOU OR ANY OTHER PERSON OR ENTITY FOR ANY DIRECT, INCIDENTAL, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOST PROFITS OR REVENUES, LOSS OF DATA, LOSS OF USE OR CLAIMS OF THIRD PARTIES), ARISING OUT OF OR IN ANY MANNER IN CONNECTION WITH YOUR USE OF (OR INABILITY TO USE) THE INDEX DATA, WHETHER OR NOT YOU HAVE BEEN ADVISED OF, OR OTHERWISE MIGHT HAVE ANTICIPATED THE POSSIBILITY OF, SUCH DAMAGES. WITHOUT LIMITATION ON THE FOREGOING, YOU ACKNOWLEDGE THAT THE INDEX DATA MAY BE INCOMPLETE OR CONDENSED, IS FOR INFORMATION PURPOSES ONLY AND IS NOT INTENDED AS, AND SHALL NOT BE CONSTRUED TO BE, AN OFFER OR SOLICITATION WITH RESPECT TO THE PURCHASE OR SALE OF ANY SECURITY. ALL OPINIONS AND ESTIMATES PROVIDED CONSTITUTE JUDGMENTS AS OF THEIR RESPECTIVE DATES AND ARE SUBJECT TO CHANGE WITHOUT NOTICE. SUCH DATA, INFORMATION, OPINIONS AND ESTIMATES ARE FURNISHED AS PART OF A GENERAL SERVICE, WITHOUT REGARD TO YOUR PARTICULAR CIRCUMSTANCES, AND CITIINDEX SHALL NOT BE LIABLE FOR ANY DAMAGES IN CONNECTION THEREWITH. CITIINDEX IS NOT UNDERTAKING TO MANAGE MONEY OR ACT AS A FIDUCIARY WITH RESPECT TO YOUR ACCOUNTS OR ANY OF YOUR MANAGED OR FIDUCIARY ACCOUNTS AND YOU ACKNOWLEDGE AND AGREE THAT THE INDEX DATA DOES NOT AND SHALL NOT SERVE AS THE PRIMARY BASIS FOR ANY INVESTMENT DECISIONS MADE WITH RESPECT TO SUCH ACCOUNTS.

You agree to indemnify and hold harmless CitiIndex, its affiliates and their respective directors, officers, employees and agents, and defend any action brought against any such person or entity with respect to any claim, demand, cause of action, cost, loss, damage, expense (including reasonable attorneys' fees) or liability, as incurred, arising from or based in any respect on your use of (or inability to use) the Index Data.

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Dow Jones

The Dow Jones Indexes are produced by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones Indexes ©  is proprietary to Dow Jones & Company, Inc.

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EURIBOR EBF

Euribor and Eonia are registered trademarks of Euribor EBF. All rights reserved. All use of the trademarks must indicate that the index is a registered trademark. For all commercial use of the registered trademarks it is recommended to obtain prior explicit approval from Euribor EBF. Please also note that the use of the indexes reference data is currently free of charge. Euribor EBF reserves the right to change that policy at any time.

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EuroMTS

(a) MTSNext has no liability for the accuracy or completeness of the Information or for delays, interruptions, or omissions therein; (b) the Information cannot be used for any unlawful purpose; (c) MTSNext and EuroMTS Limited shall have the right to assert their respective Intellectual Property Rights in the Information; (d) the Information is provided subject to the terms of the Distribution and License Agreement entered into between MTSNext and FactSet; (e) the restrictions, being those contained in the Distribution and License Agreement entered into between MTSNext and FactSet, shall apply in relation to the redistribution of the Information; (f) that the Client may only use the Information for its internal business use only, save that the Client may redistribute insubstantial amounts of the Information in the ordinary course of its business; (g) that MTSNext shall not be liable for any loss or damage whatsoever (including, without limitation, investment losses) arising wholly or partly in connection with the provision of and subsequent use of the Information or Trademarks or the use of the same thereof by the Client or any other service rendered in connection therewith or any failure to perform any services adequately or at all even if MTSNext is advised of or could anticipate such loss or damage; (h) that the rights of MTSNext to request deletion of all information obtained by the Client; (i) that MTSNext has the right to cease the supply of Information to FactSet if it becomes aware that either the Client or the FactSet are using the Information otherwise than in accordance with this Agreement; (j) that a Client may not redistribute any Information received by it from FactSet to any third parties whatsoever without the prior written consent of MTSNext; and (k) that a Client shall not misrepresent any Information supplied to it.

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eVestment Alliance

Copyright © eVestment Alliance, LLC ("eA"). All rights reserved. Any copying, republication, or redistribution of information, including by caching, framing, or similar means, is expressly prohibited without the prior written consent of eA. eA shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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FTSE

[The Distributor] is licensed by FTSE International Limited ("FTSE") to publish the [FTSE Product]. FTSE shall not be responsible for any error or omission in the [FTSE Product]. All copyright and database rights in the [FTSE Product] belong to FTSE or its licensors. Redistribution of the data comprisng the [FTSE Product] is not permitted. You agree to comply wiht the restrictions or conditions imposed upon the use, access, or storage of the data as may be notified to you by FTSE or [Distributor] and you may be required to enter into a separate agreement with FTSE or [Distributor].

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ICAP

THE ICAP DATA SHALL ONLY BE AVAILABLE ON THOSE DAYS AND/OR TO THE EXTENT THAT IT IS AVAILABLE TO ICAP AND, FOR THE AVOIDANCE OF DOUBT, IT WILL NOT BE SUPPLIED ON ANY DAY AND/OR TO THE EXTENT THAT IT IS NOT AVAILABLE TO ICAP FOR REASONS INCLUDING, BUT NOT LIMITED TO PUBLIC OR BANK HOLIDAYS IN ANY JURISDICTION, MARKET CLOSURES, MARKET SUSPENSIONS, ILLIQUIDITY OF ANY MARKET OR ANY EVENT OR CAUSES BEYOND ICAP’S AND/OR ITS GROUP COMPANIES’ CONTROL.  ICAP DOES NOT MAKE OR GIVE, NOR HAS ANY SERVANT OR AGENT OF ICAP THE AUTHORITY TO MAKE OR GIVE, ANY REPRESENTATION, WARRANTY OR UNDERTAKING (EXPRESS OR IMPLIED) AS TO, AND NONE OF ICAP OR ITS GROUP COMPANIES ACCEPT ANY LIABILITY IN RESPECT OF THE ACCURACY, COMPLETENESS, RELIABILITY, TIMELINESS, CURRENCY OR QUALITY OF THE ICAP DATA OR ITS CORRESPONDENCE WITH DESCRIPTION OR AS TO ITS FITNESS FOR A PARTICULAR PURPOSE. ICAP MAY ALTER THE CONTENT OF THE ICAP DATA FROM TIME TO TIME, PROVIDED, HOWEVER, THAT ANY SUCH VARIATION SHALL NOT BE MATERIAL AND SHALL NOT CHANGE THE FUNDAMENTAL SCOPE OF THE ICAP DATA. PROVISION OF THE ICAP DATA SHALL NOT BE CONSTRUED AS AN OFFER TO BUY OR SELL ANY FINANCIAL INSTRUMENTS. THE END USER ACKNOWLEDGES THAT THE SUPPLY AND USE OF THE ICAP DATA IS NO SUBSTITUTE FOR THE INDEPENDENT USE OF JUDGEMENT OR KNOWLEDGE OF THE RELEVANT MARKETS AS TO ANY PROPOSED TRANSACTIONS AND THAT THE ICAP DATA IS OPEN TO INTERPRETATION.  THE END USER ALSO ACKNOWLEDGES THAT THE ICAP DATA IS COMPILED BY ICAP FROM SOURCES BELIEVED TO BE RELIABLE AND MAY BE BASED ON AND MAY ALSO CONTAIN DATA BASED ON OPINIONS, PROJECTIONS, ESTIMATES AND EXTRAPOLATIONS CONSTITUTING THE PROVIDER’S JUDGEMENT AT THE TIME WHICH SHALL BE SUBJECT TO CHANGE WITHOUT NOTICE. NONE OF ICAP, ITS GROUP COMPANIES OR THEIR RESPECTIVE AGENTS SHALL BE LIABLE FOR ANY DELAY IN THE SUPPLY OF THE ICAP DATA OR FOR THE TEMPORARY NON-PERFORMANCE OR INTERRUPTION OF THE SUPPLY OF THE ICAP DATA DUE TO ANY CAUSE WHATSOEVER, INCLUDING ICAP’S, ITS GROUP COMPANIES’ OR THEIR RESPECTIVE AGENTS NEGLIGENCE.

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JP Morgan

JPMorgan is the marketing name for JPMorgan Chase & Co. and its subsidiaries and affiliates worldwide. J.P. Morgan Securities Inc. is a member of NYSE and SIPC. JPMorgan Chase Bank, N.A. is a member of FDIC and is authorized and regulated in the UK by the Financial Services Authority. J.P. Morgan Futures Inc., is a member of the NFA. J.P. Morgan Securities Ltd. (JPMSL) is a member of the London Stock Exchange and is authorized and regulated by the Financial Services Authority. J.P. Morgan Equities Limited is a member of the Johannesburg Securities Exchange and is regulated by the FSB. J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Authority. JPMorgan Chase Bank, N.A., Singapore branch is regulated by the Monetary Authority of Singapore. J.P. Morgan Securities Asia Private Limited is regulated by the MAS and the Financial Services Agency in Japan. J.P. Morgan Australia Limited (ABN 52 002 888 011/AFS Licence No: 238188) (JPMAL) is regulated by ASIC.

JP Morgan and FactSet Research Systems do not guarantee the accuracy and/or the completeness of the JPMorgan Indices or any Data included therein and JP Morgan and FactSet Research Systems shall have no liability for any errors, omissions, or interruptions therein. JPMorgan and FactSet Research Systems make no warranty, express or implied, as to results to be obtained by any licensee, owners of the transactions, or any other person or entity from the use of or inability to use the JPMorgan Indices or any data included therein. JPMorgan and FactSet Research Systems make no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the JPMorgan Indices. Without limiting any of the foregoing, in no event shall JPMorgan or FactSet Research Systems have any liability for any special, punitive, indirect, incidental, exemplary or consequential damages (including lost profits), regardless of whether JPMorgan or FactSet Research Systems have been apprised of the likelihood of such damages occuring and regardless of the form of action, whether in contract, warranty, tort (including negligence), strict liability or otherwise.

Copyright  JPMorgan Chase & Co. All rights reserved. Additional information available upon request.

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Lipper

Copyright © Reuters. All rights reserved. Any copying, republication or redistribution of Information, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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Mergent Inc.

Certain financial information included in “Redistributor’s Service” is proprietary to Mergent, Inc. (“Mergent”) Copyright ©. Reproduction of such information in any form is prohibited. Because of the possibility of human or mechanical error by Mergent’s sources, Mergent or others, Mergent does not guarantee the accuracy, adequacy, completeness, timeliness or availability or for the results obtained from the use of such information.

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Morningstar

© Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar Rating
The below language is a guide to assist in meeting NASD and other regulatory disclosure requirements related to the use of ratings and other data in marketing materials. Company may find alternative ways to display the necessary disclosure elements that may also meet regulators requirements. In the event that the NASD or other regulatory agency requires revisions to the following disclaimer, Company may make such changes as deemed appropriate:

If Company uses or displays that part of the Product containing the Morningstar Rating, Licensee may include the following disclaimer:

For open end funds, closed end funds or variable annuity underlying funds:
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. [Insert name of fund] was rated against the following numbers of U.S.-domiciled [insert name of category] funds over the following time periods: [insert number of funds in category during prior 3-year period] funds in the last three years, [insert number of funds in category during the prior 5-year period] funds in the last five years, and [insert number of funds in category during the prior 10-year period] funds in the last ten years. With respect to these [insert name of category] funds, [insert name of fund] received a Morningstar Rating of [insert number of stars for 3-year rating] stars, [insert number of stars for 5-year rating] stars and [insert number of stars for 10-year rating] stars for the three-, five- and ten-year periods, respectively. Past performance is no guarantee of future results.

In the event a fund has multi-class funds, the following language should also be included:

Morningstar Rating is for the ____ share class only; other classes may have different performance characteristics.

For ETFS:
The Morningstar Rating™ is provided for those exchange-traded funds (“ETFs”) with at least a three-year history. Ratings are based on the ETF’s Morningstar Risk-Adjusted Return measure which accounts for variation in monthly performance, placing more emphasis on downward variations and rewarding consistent performance. An ETF’s risk-adjusted return includes a brokerage commission estimate. This estimate is intended to reflect what an average investor would pay when buying or selling an ETF. PLEASE NOTE, this estimate is subject to change and the actual brokerage commission an investor pays may be higher or lower than this estimate. Morningstar compares each ETF’s risk-adjusted return to the open-end mutual fund rating breakpoints for that category. Consistent with the open-end mutual fund ratings, the top 10% of ETFs in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The overall rating for an ETF is based on a weighted average of the time-period ratings (e.g., the ETF’s 3,5, and 10 year rating).. The determination of an ETF’s rating does not affect the retail open end mutual fund data published by Morningstar. Past performance is no guarantee of future results.

Morningstar Rating for Load-Waived A-Shares
If Company uses or displays that part of the Product containing the Morningstar Rating for Load-Waived A Shares, Company may include the following disclaimer:

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category. This measure takes into account variations in a fund’s monthly performance after adjusting for sales loads (except for load-waived A shares) redemption fees, and the risk-free rate, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the ratings for the three-, five- and ten-year (if applicable) time periods. Load-waived A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load. [Insert name of fund] was rated against the following numbers of U.S.-domiciled [insert name of category] funds over the following time periods: [insert number of funds in category during prior 3-year period] funds in the last three years, [insert number of funds in category during the prior 5-year period] funds in the last five years, and [insert number of funds in category during the prior 10-year period] funds in the last ten years. With respect to these [insert name of category] funds, [insert name of fund] received a Morningstar Rating of [insert number of stars for 3-year rating] stars, [insert number of stars for 5-year rating] stars and [insert number of stars for 10-year rating] stars for the three-, five- and ten-year periods, respectively. Past performance is no guarantee of future results. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structure.

Morningstar Rating based on Extended Performance
If Company uses or displays that part of the Product containing the Morningstar Rating™ for certain fund share classes whose ratings are based on returns prior to the inception of that particular share class, (funds not typically rated by Licensor and based on adjusted historical returns), Company may include the following disclaimer:

Please note, some of the Morningstar proprietary calculations, including the Morningstar Rating™, are not customarily calculated based on adjusted historical returns. The evaluation of this investment does not affect the retail mutual fund data published by Morningstar. For each retail mutual fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. This investment’s independent Morningstar Rating metric is then compared against the retail mutual fund universe breakpoints to determine its hypothetical rating. [Insert name of fund] was rated against the following numbers of U.S.-domiciled [insert name of category] funds over the following time periods: [insert number of funds in category during prior 3-year period] funds in the last three years, [insert number of funds in category during the prior 5-year period] funds in the last five years, and [insert number of funds in category during the prior 10-year period] funds in the last ten years. With respect to these [insert name of category] funds, [insert name of fund] received a Morningstar Rating of [insert number of stars for 3-year rating] stars, [insert number of stars for 5-year rating] stars and [insert number of stars for 10-year rating] stars for the three-, five- and ten-year periods, respectively. Past performance is no guarantee of future results.

In the event Company uses or displays that part of the Product containing the Morningstar Style Box, Company may include the following disclaimer:

The Morningstar Style Box™ reveals a fund’s investment strategy. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth). For fixed-income funds the vertical axis shows the average credit quality of the bonds owned, and the horizontal axis shows interest rate sensitivity as measured by a bond’s duration (short, intermediate or long).

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Reuters

© 1983- Reuters com, Inc. ALL RIGHTS RESERVED. All copying and redistribution are prohibited.

The following are trademarks of Reuters Research Inc. (“Reuters”): Multex, Reuters Knowledge for Analysts, Multex.com, Multex Corporate, Reuters Estimates, Reuters Estimates Online, Reuters Research Solutions, Reuters Fundamentals, Multex Investor, Multex IR, Multex mDNA, Multex Net, Reuters Research on Demand, Multex Publisher, Multex Research and the Internet Analyst. This application and system contains other trademarks and logos of Reuters and other organizations, all of which are the property of their respective owners, and may not be used or displayed without such owner’s express written consent.

Reuters and its affiliates obtain information from sources they believe to be reliable, but do not warrant its accuracy or fitness for a particular purpose, and disclaim for themselves and their information providers all liability arising from its use. The information provided is not offered as tax, legal, or investment advice, or an offer to buy or sell securities. The information provided may be displayed and printed for your personal, non-commercial use only. You may not reproduce, re-transmit, distribute, disseminate, sell, publish, broadcast or circulate the information in any form or media to anyone, without the express written consent of Reuters.

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Rogerscasey

THIS AGREEMENT LIMITS YOUR USE OF THE ROGERSCASEY DATA AND ROGERSCASEY’S LIABILITY. ROGERSCASEY MAY CHANGE THESE TERMS AT ANY TIME.

1. The License.

1.1 ROGERSCASEY hereby grants you, the organization licensing the Data (as defined herein) or reviewing the Data for evaluation purposes, a non-exclusive and non-transferable right for each specific individual accepting this Agreement on behalf of your organization (the “Authorized User”) to (a) access and use ROGERSCASEY’s proprietary database that is available on this FactSet product (the “Data”) solely in connection with the your entity’s internal business operations (i.e., researching, evaluating, analyzing and comparing money manager products) and (b) copy, display, distribute and otherwise make available the Results obtained from such Authorized User’s use of the Data (the “Results”) to your other employees for use by such other employees solely in connection with the your entity’s internal business operations, all in accordance with the terms of this Agreement. In addition, ROGERSCASEY hereby grants to you a non-exclusive and non-transferable right to incorporate limited portions of the Results in your marketing and other materials for distribution to customers and prospective customers as part of your direct marketing activities, so long as (i) such materials are provided to customers and prospective customers at no additional charge, and (ii) such materials contain appropriate attribution to ROGERSCASEY and include all proprietary notices set forth in the Results, and (iii) the Results contained in such materials have not been altered or otherwise manipulated by you. Notwithstanding the foregoing, ROGERSCASEY reserves the right to restrict your publication or distribution of such materials to any entity. You and each of your Authorized Users shall comply with all applicable federal, state and local laws, regulations and ordinances in connection with its activities pursuant to this Agreement.

1.2 In the event ROGERSCASEY reasonably believes that any person designated as an Authorized User has for any reason ceased to be an Authorized User or is otherwise violating any term or condition of this Agreement, ROGERSCASEY shall have the right to take action to prevent such person from accessing and using the Data.

1.3 You acknowledge and agree that the Data are valuable trade secret, confidential and proprietary property belonging to ROGERSCASEY or its suppliers and that you have no proprietary interest whatsoever in any of the foregoing except for the limited license rights expressly set forth herein. You agree to hold such materials in strict confidence and to take all reasonable steps, which are no less than the steps you use to safeguard your own confidential information, to prevent any unauthorized use or disclosure of such materials. Except as otherwise expressly permitted by this Agreement, you will not, without the prior written consent of ROGERSCASEY, directly or indirectly: (a) display, distribute, transfer or otherwise make available in any form to any third party, the Data or the Results; (b) grant any third party, other than the Authorized User(s), direct or indirect access to the Data; (c) use ROGERSCASEY’s name or trademarks in connection with a prospectus or issuance or promotion of a financial instrument; (d) use any Data to create a separate or substitute database; or (e) cause or authorize others to do any of the foregoing.

1.4 You specifically agree that any breach of Section 1.1 or 1.2 will result in irreparable injury to ROGERSCASEY and that in such event ROGERSCASEY shall be entitled (without the necessity of posting any bond or establishing the inadequacy of damages as a remedy) to specific performance and injunctive relief to correct and/or enjoin any such breach or threatened breach in addition to all other remedies which might be available at law or in equity.

1.5 ROGERSCASEY may change the content of the Data.

2. Term and Termination.

2.1 If you fail to comply with any of the terms or conditions of this Agreement, ROGERSCASEY may immediately terminate your access to the Data, require you to destroy all written, electronic or other tangible information generated from the Data (including all Results in your possession) and recover any damages suffered by ROGERSCASEY.

2.2 Upon termination of this Agreement for any reason: (a) the licenses granted hereunder to use the Data and the Results shall be immediately revoked and (b) all of your obligations hereunder and the terms of Sections 1.2, 2.1, 3, 4 and 6 shall survive.

3. NO WARRANTIES

3.1 ROGERSCASEY HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS, STATUTORY OR IMPLIED REGARDING THE DATA, AND ANY RESULTS OBTAINED OR TO BE OBTAINED FROM THE USE THEREOF, INCLUDING BUT NOT LIMITED TO ALL WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR USE, ACCURACY, COMPLETENESS, ORIGINALITY, TITLE AND NON-INFRINGEMENT, AND ALL WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING AND USAGE OF TRADE OR THEIR EQUIVALENTS UNDER THE LAWS OF ANY JURISDICTION. The Data are provided by ROGERSCASEY on an "AS IS" basis. ROGERSCASEY will use reasonable efforts to provide accurate and complete Data, but the accuracy, completeness and reliability of the Data are not guaranteed and you understand and agree that data fields may not be consistent throughout the Data. Because the Data is provided through FactSet Products, ROGERSCASEY cannot guarantee the security of any transmitted information against unauthorized third parties that obtain access to such information through your facilities, through the use of passwords obtained from you or the Authorized User(s), through advanced programming techniques, or otherwise. The entire risk as to the use and performance of the Data and the use of the Results is assumed by you.

4. Limitation of Liability, Limitation of Action and Remedies.

4.1 Notwithstanding anything herein to the contrary, ROGERSCASEY shall not be liable to you under any contract, negligence, strict liability or other legal or equitable theory for: (a) any claims against you by any other party; (b) any indirect, incidental, special, exemplary, consequential or punitive damages or costs (including but not limited to any lost profits, lost revenue, lost savings, lost data, loss of use or business interruption or the like) arising out of the use or inability to use the Data or otherwise under this Agreement; (c) cost of procurement of substitute goods or services; or (d) any delay or failure to perform its obligations hereunder, errors of any kind, event of force majeure and/or matters beyond its control, in each case whether or not ROGERSCASEY has been advised of or could have foreseen the possibility of such damages. No action, regardless of form, arising out of or pertaining to the Data or the terms of this Agreement may be brought against ROGERSCASEY by you more than one (1) year after the cause of action has occurred.

4.2 You are solely responsible for providing services to your own clients, operating and otherwise using the Data and Results and for ensuring the accuracy and adequacy of the Results of such services, operations and use. You assume the entire risk of any use made of the Data and the Results and shall have full responsibility for any decisions and/or analyses in which any element of the Data and/or Results may be used or relied upon. Any reliance by you or others upon the Data or Results will not diminish that responsibility. ROGERSCASEY is not and shall not be deemed to be providing investment management, supervision or advisory services to you or your clients.

4.3 You agree to defend, indemnify and hold ROGERSCASEY harmless from and against any and all claims, expenses, losses, costs, expenses or liabilities (including legal, accounting and other professional fees and expenses) in connection with (a) any claim by any third party relating to the use of the Data and/or Results and/or any decisions and/or analyses made by you or others while using the Data and/or Results; or (b) any breach of Section 1.1 or 1.2 or any other unauthorized use or disclosure of the Data and/or Results.

5. Miscellaneous.

5.1 Neither this Agreement nor any right or obligation hereunder is assignable in whole or in part, whether by operation of law or otherwise, by you without the express written consent of ROGERSCASEY, and any such attempted assignment shall be void and unenforceable.

5.2 You agree to be bound by this Agreement. In the event of any conflict between the terms of this Agreement and the FactSet Master Client License Agreement, the terms of this agreement shall prevail.

5.3 This Agreement contains the entire understanding of the parties with respect to the subject matter hereof and it supersedes any oral or written communications or representations relating hereto. No modification or waiver of this Agreement shall be binding unless in writing and signed by the parties hereto. The waiver by either party of any breach by the other party of any of its obligations hereunder or the failure of either party to exercise any of its rights in respect of such a breach shall not be deemed to be a waiver of any previous or subsequent breach.

5.4 This Agreement will be governed by and construed in accordance with the laws of the State of Connecticut without regard to conflict of law principles. All suits, proceedings or claims to enforce the provisions of this Agreement shall be brought in the courts of the State of Connecticut in the county of Fairfield and you hereby consent to the jurisdiction and venue of those courts. The rights and remedies of ROGERSCASEY set forth in this Agreement are in addition to any rights or remedies ROGERSCASEY may otherwise have at law or in equity.

5.5 If any provision of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, that provision will be enforced only to the extent that it is not in violation of that law or is not otherwise unenforceable and all other provisions of this Agreement will remain in full force and effect.

5.6 The relationship of the parties hereto shall be that of independent contractors. Nothing herein shall be construed to create any partnership, joint venture, or similar relationship, or to subject the parties to any implied duties or obligations respecting the conduct of their affairs which are not expressly stated herein.

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Russell Investments

Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Manager Universes. Russell® is a trademark of Russell Investment Group.

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Standard & Poor's

ISIN Data. Licensee agrees that for the duration of this Agreement and any perpetual license granted hereunder, it shall have an appropriate license as necessary to obtain the applicable ISIN data. “ISIN” means International Securities Identifying Number.

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Singapore Exchange Securities Trading Limited

I/We (Authorised Recipient/Redistributor/Client) hereby expressly acknowledge, warrant and agree, as conditions of the agreement between me/us (Authorised Recipient/Redistributor/Client and Market Data Vendor) and the Market Data Vendor, that:

1. The SGXNews Feed provided to me/us (Authorised Recipient/Redistributor/Client) on a Real-Time Basis which includes Corporate Announcements submitted by companies listed on SGX-ST is confidential and remains the valuable property of SGX-ST, and it is a condition of its supply to us that we will only use it on the basis set out in this agreement, and no other.
2. Where relevant, I/We (Authorised Recipient/Redistributor/Client) will not, without SGX-ST’s prior written consent, authorise or allow any modifications to the equipment, apparatus, and wires by which the SGXNews Feed is transmitted to me/us directly or indirectly by the Market Data Vendor.
3. Where relevant, I/We (Authorised Recipient/Redistributor/Client) have authority to bind all my/ our Subscriber Location(s), and attach a list of those Subscriber Location(s).
4. Where relevant, at all reasonable times during normal hours, any person or persons designated by the Market Data Vendor shall have access to all Subscriber Locations (including branch offices). They shall have the right to observe the use being made of the SGXNews Feed and the right to examine and inspect all instruments, apparatus and Terminals used in connection with the receipt and processing of SGXNews Feed on a Delayed/Real-Time Basis in the particular Subscriber Location.
5. Where relevant, I/We (Authorised Recipient/Redistributor/Client) agree and undertake to give to such persons as SGX-ST may designate, from time to time, full and free access to our premises set out above and/or any other premises at which the SGXNews Feed is received at any and all reasonable times during normal business hours. We shall permit such persons to observe the use made of the SGXNews Feed at such premises and to examine and inspect all instruments and apparatus used at such premises in connection with the SGXNews Feed.
6. The transmission of SGXNews Feed is conditioned upon a strict compliance on my/our (Authorised Recipient/Redistributor/Client) part with the provisions set forth herein, and the Market Data Vendor may, with or without notice, discontinue transmission whenever in the Market Data Vendor’s judgment there has been any breach by me/us, or by the entities for whom I/we have entered into this Authorised Recipient/Redistributor/Subscriber Agreement, of any of those provisions, or whenever directed to do so by SGX-ST.
7. Neither the Market Data Vendor nor SGX-ST guarantees the sequence, timeliness, accuracy or completeness of any of the SGXNews Feed. Subject to Clause 9, neither the Market Data Vendor nor SGX-ST, shall be liable for non-performance or interruption of transmission due to any cause whatsoever, including any omission or negligence on the part of the Market Data Vendor and/or SGX-ST. Neither the Market Data Vendor nor SGX-ST, shall be liable for any reason whatsoever to me/us or to any other person, firm or corporation for any delays, inaccuracies, errors or omissions in the SGXNews Feed, or in the transmission thereof, or for any damages arising therefrom or occasioned thereby, including economic, financial, material, personal or consequential loss or damage.
8. Subject to Clause 9, SGX-ST shall not be liable in any way whatsoever to the Market Data Vendor, its Authorised Recipients/Redistributors/Clients or any person, company or other entity whatsoever for any economic, financial, material, consequential, or personal losses or damage resulting from actions or decisions based on, or as a result of, SGXNews Feed received directly or indirectly from the Market Data Vendor.
9. I/We (Authorised Recipient/Redistributor/Client) hereby indemnify and agree to keep indemnified each of the Market Data Vendor, SGX-ST and their respective officers, employees and agents against all loss, actions, proceedings, costs, claims and damages arising from:
   
   (i)  any breach by me/us of my/our obligations under this Agreement;
   
   (ii)  reliance by third parties on Market Data obtained through, or from, our utilisation of the transmission of SGXNews Feed; and
   
   (iii)  where relevant, any defect in or abuse or misuse or failure of operation or performance or breakdown of such equipment or any part or parts thereof at any time during the term of this agreement.
10. I/We (Authorised Recipient/Redistributor/Client) acknowledge that SGX-ST has retained rights under its agreement with the Market Data Vendor to terminate the transmission of SGXNews Feed to the Market Data Vendor on short notice and that if SGX-ST elects to exercise those rights then the Market Data Vendor will not be in a position to continue transmissions to me/us.
11. I/We (Authorised Recipient/Client) shall not use or permit the SGXNews Feed to be used other than for my/our own internal purposes, and shall not permit any third party to use or distribute the SGXNews Feed or purport to do any of the same.
12. I/We (Authorised Recipient/Redistributor/Client) agree and undertake that during the term of this Agreement and thereafter I/we will keep confidential and save as expressly provided in this Agreement will not without the prior written consent of SGX-ST disclose to any third party any and all Confidential Information (including without limitation the SGXNews Feed).

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Thomson Reuters

Thomson Reuters processes personal information of Users in accordance with Thomson Reuters' Privacy Statement set out in: http://thomsonreuters.com/products_services/financial/privacy_statement