EFTA01386132

Proprietary asset allocation process Forward-looking Quantitative and qualitative Our process does not rely solely on historical returns. We utilize a forward-looking approach to asset allocation construction. Our approach draws on both our proprietary quantitative process and the experienced judgment of our Chief Investment Officer and Regional Investment Committee. Allocations are modified dynamically in response to changes in our global macroeconomic outlook or opportunities in the marketplace. We invest in alternative assets. which allow us to construct portfolios with the potential for higher returns at lower levels of risk. Asset allocation is based on each investor's unique risk/return objectives. Availability of alternative investments, such as hedge funds, is subject to regulatory requirements, and is available only for 'Qualified Purchasers" as defined by the U.S. Investment Company Act of 1940 and "Accredited Investors." as defined in Regulation D of the 1933 Securities Act. Deutsche Asset CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0087693 CONFIDENTIAL SDNY_GM_00233877 EFTA01386132