EFTA Document EFTA01344653

From: Tazia Smith Sent: 12/17/2013 5:30:00 PM To: Paul Morris Subject: Re: BRL Notes... [CI classification: confidential Hi - we have been active in highlighting them. That is why we sold the latin amer mutual fund, we highlighted aria, etc. I need his refreshed thoughts on preferreds (he has duration/interest rate risk in them, but as harry and I have discussed, there isn't a great replacement. vinit still likes these high coupon pfds) Tazia Smith Director Key Client Partners -