EFTA Document EFTA01457964

Mee pouilient roc:* The kJ ICIUDS lenvirwere eerie hghts Atlit44/35 prspnctivos b,raeth 1441torencuon Kkel Portfolio Our view of non-traditional asset classes Alternatives portfolios Due to their distinct characteristics, we take a differentiated look at selected liquid and illiquid alternative investments. Liquid alternatives • Commodity Trading Advisors (DTAs) Geopolitical concerns and worries about the ripple effects from changing U.S. monetary policy could make life difficult