quities in the OTC market or foreign markets, may not report the most current price and are indicated as Stale Priced. For Limited Partnerships and Real Estate Investment Trust (REIT) securities, you may see that the value reflected on your periodic statement for this securityis unpnced. NASD rules require that certain Lim

quities in the OTC market or foreign markets. may not report the most current price and are indicated as Stale Priced. For Limited Partnerships and Real Estate Investment Trust (REIT) securities. you may see that the value reflected on your periodic statement for this securityis unpnced. NASD rules require that certain Lim

ue at which minority positions in Closed- End Investment Companies tend to trade or, when real estate is involved, the implied discounts observed in Real Estate Investment Trust acquisitions and the trading discounts of semi-public real estate limited partnership interests. These discounts recognize an investor's lack of c

2016. We believe this could lead to lower volatility and correlations over time. Also, generalist investors are estimated to be underweight the Real Estate Investment Trust (REIT) sector by c. S95bn, which could provide support. REIT dividend yields are now at 4.0 percent and well supported by underlying free-cash- f