MONTHLY REVIEWS

• REITs posted their first positive monthly performance since July.
• Morningstar Analysis Shows Importance of Meaningful REIT Allocations.
• REITs continue to boast strong balance sheets marked by low leverage levels and debt maturities that are termed out for several years.

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• The markets remain volatile
• Our portfolio has performed well
• Through our active portfolio management, our focus remains on constructing a diversified portfolio that outperforms not only in rising markets, but also during periods of market stress

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