The team's investment philosophy places a heavy emphasis on diversification among asset classes and sectors. Our background with bonds informs our balanced outlook, one that's designed to mitigate risk, generate growth and achieve cost efficiencies. For equities, we carefully select 'best-in class' managers. Using Merrill research and the firm's open architecture, we invest strategically in each clients' best interest.###### *Any information presented in connection with BofA Global Research is general in nature and is not intended to provide personal investment advice. The information does not take into account the specific investment objectives, financial situation and particular needs of any specific person who may receive it. Investors should understand that statements regarding future prospects may not be realized. BofA Global Research is equity research produced by BofA Securities, Inc. ("BofAS") and/or one or more of its affiliates. BofA Global Research does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.