Various Market Returns

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Various stock and bond index values

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Various Market Returns

  1. 1. OPPENHEIMER ASSET MANAGEMENTThe Consulting GroupBenchmark Returns through November 2010 1 Month 3 Months YTD 1 year 3 years 5 years 7 years 10 years 15 yearsBarCap Municipal 5 Yr 4-6 TR USD -0.59 -0.89 4.46 4.41 6.03 5.32 4.30 5.08 4.96BarCap Municipal 7 Yr 6-8 TR USD -0.90 -1.45 6.11 5.52 6.24 5.60 4.71 5.50 5.36BarCap Municipal TR USD -2.00 -2.42 4.40 4.76 4.86 4.67 4.47 5.30 5.37BarCap US Agg Bond TR USD -0.57 -0.11 7.70 6.02 6.39 6.23 5.42 6.15 6.22BarCap US Govt/Credit Interm TR USD -0.67 0.27 7.23 5.67 5.94 5.93 4.92 5.84 5.87BarCap US Govt/Credit Long TR USD -1.35 -4.23 12.56 8.85 7.53 6.84 6.74 7.59 7.27BarCap US Govt/Credit TR USD -0.79 -0.52 8.11 6.19 6.17 6.06 5.26 6.19 6.17BofAML US HY Master II TR USD -1.08 4.29 13.20 16.75 9.59 8.63 8.31 8.66 7.30BofAML US Treasuries 1-3 Yr TR USD -0.17 0.20 2.54 1.73 3.37 4.29 3.46 4.06 4.65Citi Treasury Bill 3 Mon USD 0.01 0.04 0.12 0.12 0.79 2.36 2.25 2.31 3.27DJ Industrial Average TR USD -0.61 10.63 8.29 9.33 -3.51 3.08 4.31 2.98 7.61DJ UBS Commodity TR USD -0.35 12.21 5.55 7.64 -5.46 -0.23 4.52 5.10 5.98FTSE NAREIT Equity REITs TR -1.96 7.24 22.25 30.99 -2.55 2.06 7.83 11.01 10.60MSCI EAFE GR USD -4.79 8.35 0.10 1.55 -9.63 2.27 6.81 3.49 4.82MSCI EAFE Growth GR USD -3.20 10.64 4.40 6.47 -8.59 3.33 6.78 2.44 3.38MSCI EAFE Value GR USD -6.45 5.96 -4.20 -3.33 -10.73 1.13 6.75 4.41 6.11MSCI EM Asia GR USD -1.91 12.01 12.29 17.42 -2.77 13.36 15.54 14.14 4.50MSCI EM GR USD -2.64 11.35 11.24 15.65 -2.19 12.85 17.76 15.71 8.80MSCI EM Latin America GR USD -3.40 10.20 8.01 10.23 2.88 18.61 27.29 21.23 16.05MSCI World Ex USA GR USD -4.21 8.76 1.26 2.90 -8.82 2.88 7.39 3.97 5.28MSCI World GR USD -2.11 11.07 4.61 6.52 -6.93 1.99 5.50 2.25 5.66MSCI World Growth GR USD -1.04 14.03 7.60 10.42 -5.46 2.95 5.42 1.24 4.92MSCI World Value GR USD -3.22 8.09 1.62 2.69 -8.48 0.92 5.46 3.03 6.11Nasdaq Composite -0.20 18.49 11.06 17.58 -1.17 4.69 3.33 2.32Russell 1000 Growth TR USD 1.16 17.28 10.62 14.04 -2.35 2.58 4.04 -0.84 5.39Russell 1000 TR USD 0.33 13.81 8.83 11.48 -4.66 1.30 4.06 1.29 6.65Russell 1000 Value TR USD -0.53 10.40 7.06 8.95 -7.11 -0.13 3.90 2.98 7.26Russell 2000 Growth TR USD 4.36 24.26 19.98 30.25 -0.07 3.74 5.33 3.64 4.53Russell 2000 TR USD 3.47 21.12 17.52 26.98 -0.37 2.79 5.51 6.40 7.28Russell 2000 Value TR USD 2.54 17.95 14.95 23.66 -0.78 1.72 5.51 8.66 9.44Russell 2500 Growth TR USD 4.03 22.24 19.91 29.16 -0.24 4.24 6.15 4.07 6.37Russell 2500 TR USD 2.81 18.96 17.77 26.26 -0.19 3.38 6.36 7.08 8.85Russell 2500 Value TR USD 1.74 16.13 15.90 23.75 -0.22 2.30 6.23 8.77 10.05Russell 3000 TR USD 0.58 14.37 9.51 12.63 -4.33 1.42 4.18 1.66 6.65Russell Mid Cap Growth TR USD 3.28 20.29 18.97 26.33 -0.96 3.85 6.59 3.02 7.36Russell Mid Cap TR USD 1.82 16.94 17.35 24.04 -1.28 3.48 7.31 6.61 9.37Russell Mid Cap Value TR USD 0.51 14.03 16.00 22.07 -1.78 2.78 7.42 8.20 9.91S&P 500 Growth TR 0.47 16.19 9.34 11.66 -2.12 2.51 3.88 0.04 6.44S&P 500 TR 0.01 13.08 7.86 9.94 -5.15 0.98 3.65 0.81 6.44S&P 500 Value TR -0.46 10.02 6.35 8.23 -8.31 -0.66 3.29 1.36 6.10S&P MidCap 400 Growth TR 4.51 22.04 23.77 30.62 2.94 5.76 8.18 7.10 12.96S&P MidCap 400 TR 2.97 18.56 18.85 26.31 1.29 4.55 7.45 7.27 10.92S&P MidCap 400 Value TR 1.37 15.08 14.06 22.03 -0.39 3.22 6.64 7.31 8.92S&P 500 Sector/Cons Disc TR 2.61 20.12 22.55 28.11 3.12 3.30 3.91 3.44 7.39S&P 500 Sector/Cons Staples TR -1.17 7.76 9.48 9.19 1.75 6.77 6.81 4.92 7.69S&P 500 Sector/Energy TR 5.49 21.71 10.52 9.50 -4.19 6.58 15.20 9.61 12.01 OAM112210CM4 Page 1 of 6
  2. 2. S&P 500 Sector/Financials TR -0.67 6.88 1.26 -0.31 -20.55 -12.41 -6.23 -3.85 4.10S&P 500 Sector/Health Care TR -2.87 8.15 -1.51 0.53 -4.08 1.63 2.67 -0.41 7.63S&P 500 Sector/Industrials TR 1.11 15.61 17.63 19.15 -5.29 1.72 4.96 1.98 7.11S&P 500 Sector/Information Technology TR -1.64 17.44 4.68 10.56 -0.77 3.34 3.71 -2.65 7.17S&P 500 Sector/Materials TR 1.12 16.21 10.73 12.51 -3.32 5.99 7.80 9.07 6.47S&P 500 Sector/Telecom Services TR -1.43 7.69 10.36 15.49 -4.83 4.28 6.73 -1.90 2.65S&P 500 Sector/Utilities TR -3.03 0.94 2.30 7.97 -6.58 3.50 8.94 1.40 6.01Wilshire 5000 Total Mkt TR USD 0.53 14.16 9.66 12.61 -4.26 1.57 4.38 2.01 6.67Data Source: MorningstarAll index performance marked as “TR” is “Total Return” and is calculated based on the daily reinvestment of dividends on the ex-dividend date. Indicesmarked “GR”, which stands for “Gross Return”, also use the Total Return calculation described. The information and statistical data contained herein havebeen obtained from sources we believe to be reliable. Indices are not available for direct investment and do not reflect the costs of buying or sellingsecurities or investment management fees. Please read the following Glossary of Indexes for important information about each index. OAM112210CM4 Page 2 of 6
  3. 3. Glossary of IndexesIndices are unmanaged, hypothetical portfolios of securities that are often used as a benchmark in evaluating the relative performance of aparticular investment. An index should only be compared with a mandate that has a similar investment objective. An Index is not available fordirect investment, and does not reflect any of the costs associated with buying and selling individual securities or management fees.BofA Merrill Lynch US Treasuries 1-3 Year Index – A subset of the BofA Merrill Lynch US Treasury Index including all securities with aremaining term to final maturity less than 3 years. The BofA Merrill Lynch US Treasury Index tracks the performance of US dollardenominated US Treasury debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on anaverage of Moody’s, S&P and Fitch).Barclays Capital U.S. Government/Credit Bond Index - The U.S. Government/Credit Bond Index is the non-securitized component of theU.S. Aggregate Index . Specifically, the Government/Credit Index includes treasuries (i.e., public obligations of the US Treasury that haveremaining maturities of more than 1 year), Government-Related issues (i.e. agency, sovereign, supranational, and local authority debt) andCorporates ( publicly issued US corporate and Yankee debentures and secured notes that meet specified maturity, liquidity, and qualityrequirements). All issues in the Government/Credit Index are rated Baaa3/BBB-/BBB- or higher (using the middle rating of Moody’s, S&P,and Fitch, respectively) and have at least one year to maturity and have an outstanding par value of at least $250 million.Barclays Capital U.S. Government/Credit Intermediate Bond Index - A subgroup of the Barclays Government/Credit Bond Index that isbased on maturity with greater than 1 to 10 years.Barclays Capital U.S. Govt/Credit Long Index - A subset of the Barclays US Government/Credit Index that is based on maturity with at least10 years.Barclays Capital U.S. Aggregate Bond Index - The U.S. Aggregate Index covers the USD-denominated, investment-grade, fixed-rate,taxable bond market of SEC-registered securities. The Index includes bonds from the Treasury, Government-Related, Corporate, MBS (agencyfixed-rate and hybrid ARM pass throughs), ABS, and CMBS sectors. The U.S. Aggregate Index is a component of the U.S. Universal Index inits entirety. The index was created in 1986 with index history backfilled to January 1, 1976. All issues in the Aggregate Index are ratedBaaa3/BBB-/BBB- or higher (using the middle rating of Moody’s, S&P, and Fitch, respectively) and have at least one year to maturity and havean outstanding par value of at least $250 million.Barclays Capital U.S. Municipal Bond - The U.S. Municipal Indices cover the USD-denominated long-term tax exempt bond market. Theindex has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds and prerefunded bonds. It is generallyrepresentative of the broad market for tax-exempt bonds. The Index is comprised of investment-grade, tax-exempt, and fixed-rate bonds. Allissues in the Barclays Muni Index are rated Baa or higher, have at least one year to maturity and an outstanding par value of at least $7 million..Barclays Capital U.S 5-Year Municipal Bond Index (Barclays Muni 5yr): The Index, representing a subset of the Barclays Muni, iscomprised of investment-grade, tax-exempt and fixed-rate bonds with a minimum credit rating of Baa and a maturity range typically between 4to 6 years. All issues in the Barclays Muni 5yr Index have at least one year to maturity and an outstanding par value of at least $5 million. TheBarclays Muni 5 yr may have a shorter maturity and duration than the Barclays Muni Index.Barclays Capital U.S. 7-Year Municipal Bond Index - The Index, representing a subset of the Barclays Muni, is comprised of investment-grade, tax-exempt and fixed-rate bonds with a minimum credit rating of Baa and a maturity range typically between 6 to 8 years. All issues inthe Barclays Muni 7yr Index have at least one year to maturity and an outstanding par value of at least $5 million. The Barclays Muni 7yr mayhave a shorter maturity and duration than the Barclays Muni Index.Citigroup 3-month T-bill Index - This is an unmanaged index of three-month Treasury bills that measures monthly return equivalents of yieldaverages that are not marked to market. The Three-Month Treasury Bill Indexes consist of the last three three-month Treasury bill issues.Dow Jones Industrial Average Index - The oldest continuing US market Index, includes 30 “blue-chip” US stocks selected for their history ofsuccessful growth and wide interest among investors. It is called an average because it originally was computed by adding up stock prices anddividing by the number of stocks. This methodology remains the same today, but the devisor has been changed to preserve historicalcontinuity.Dow Jones AIG Commodity Index - A futures commodity index listing 19 different commodities in the United States. It is designed to be adiversified and liquid index tracking the performance of physical commodities in the United States. It weights the commodities listed accordingto liquidity and dollar-adjusted production data. However, unlike other commodity indices, the DJ-AIGCI sets limits on its weighting so as tomaintain its own diversification. It is a rolling index, which means that futures near their delivery dates must be sold so as to avoid delivery ofthe underlying. OAM112210CM4 Page 3 of 6
  4. 4. BofA ML High-Yield Master Index - A capitalization-weighted Index that provides a broad measure of the performance of the non-investment grade US domestic bond market. The Index is limited to US domestic and Yankee markets. Bonds must have greater than 1 yearremaining to final maturity, at least $100 million face outstanding, be US dollar pay, have a fixed coupon schedule with a credit rating belowinvestment grade not in default.FTSE National Association of Real Estate Investment Trusts (NAREIT) Equity Index - An Index consisting of all tax qualified real estateinvestment trusts whose common shares are listed on the NYSE, AMEX and the NASDAQ. The Index is capitalization-weighted and all REITsmust have at least 75% of their gross invested book assets invested directly or indirectly in the equity ownership of real estate.Morgan Stanley Capital International, Europe, Australasia, Far East Index (MSCI EAFE) - An Index in US dollars based on the shareprice of companies listed on stock exchanges in 21 developed countries outside of North America. This Index is created by aggregating the 21different country Indices, all of which are created separately. It is considered to be generally representative of overseas stock markets.MSCI EAFE Value Index - An Index in US dollars representing approximately half of the total market capitalization of the MSCI EAFEIndex. The companies in this Index tend to have lower price-to-book ratios than the MSCI EAFE Growth Index. The MSCI EAFE Value iscalculated using the constituents of the Value Indices of the 21 developed countries outside of North America composing the MSCI EAFEIndex.MSCI EAFE Growth Index - An Index in US dollars representing approximately half of the total market capitalization of the MSCI EAFEIndex. The companies in this Index tend to have higher price-to-book ratios than the MSCI EAFE Value Index. The MSCI EAFE Growth Indexis calculated using the constituents of the Growth Indices of the 21 developed countries outside of North America composing the MSCI EAFEIndex.Morgan Stanley Capital International, World Index (MSCI World) - An Index in US dollars based on the share price of companies listedon stock exchanges in 23 developed countries including the US and Canada. This Index is created by aggregating the 23 different countryIndices, all of which are created separately. It is considered to be generally representative of domestic and overseas stock markets.MSCI World Value Index - An Index in US dollars representing approximately half of the total market capitalization of the MSCI WorldIndex. The companies in this Index tend to have lower price-to-book ratios than the MSCI World Growth Index. The MSCI World Value iscalculated using the constituents of the Value Indices of the 23 developed countries including the US and Canada that compose the MSCIWorld Index.MSCI World Growth Index - An Index in US dollars representing approximately half of the total market capitalization of the MSCI WorldIndex. The companies in this Index tend to have higher price-to-book ratios than the MSCI World Value Index. The MSCI World Growth iscalculated using the constituents of the Growth Indices of the 23 developed countries including the US and Canada that compose the MSCIWorld Index.Morgan Stanley Capital International, World ex-US Index (World ex-US) - An Index in US dollars based on the share price of companieslisted on stock exchanges in 22 developed countries excluding the US. This Index is created by aggregating the 22 different country Indices, allof which are created separately. It is considered to be generally representative of overseas stock markets.MSCI Emerging Markets Free Index (MSCI EMF) - A market capitalization weighted Index in US dollars representing 26 emergingmarkets in the world. This Index is created by aggregating the 26 different country Indices, all of which are created separately. It is consideredto be generally representative of emerging markets.MSCI EM Asia Index - The MSCI Emerging Markets Asia Index is a free float-adjusted market capitalization index that is designed tomeasure equity market performance of emerging markets. As of May 27, 2010 the MSCI Emerging Markets Index consisted of the following21 emerging market country indices: China, India, Indonesia, Korea, Malasya, Philippines, Taiwan, Thailand.NASDAQ Composite - A market-value weighted index of all common stocks listed on Nasdaq. The index is used mainly to track technologystocks, and thus it is not a good indicator of the market as a whole.Russell 1000 Index - Measures the performance of the 1,000 largest companies in the Russell 3000 Index. Frank Russell Co. ranks the UScommon stocks from largest to smallest market capitalization at each annual reconstitution period. The Russell 1000 Index represents the vastmajority of the total market capitalization of the Russell 3000 Index. It is considered to be generally representative of US Equity Large Capperformance.Russell 1000 Growth Index - Measures the performance of the Russell 1000 companies with higher price-to-book ratios and higher forecastedgrowth values.Russell 1000 Value Index - Measures the performance of the Russell 1000 companies with lower price-to-book ratios and lower forecastedgrowth values. OAM112210CM4 Page 4 of 6
  5. 5. Russell 2000 Index - Measures the performance of the 2,000 smallest companies in the Russell 3000 Index. Frank Russell Co. ranks the UScommon stocks from largest to smallest market capitalization at each annual reconstitution period. The Russell 2000 Index represents a verysmall percentage of the total market capitalization of the Russell 3000 Index. It is considered to be generally representative of US Equity Smalland Mid Cap performance.Russell 2000 Growth Index - Measures the performance of those Russell 2000 companies with higher price-to-book ratios and higherforecasted growth values.Russell 2000 Value Index - Measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecastedgrowth values.Russell 2500 Index - Measures the performance of the 2,500 smallest companies in the Russell 3000 Index. Frank Russell Co. ranks the UScommon stocks from largest to smallest market capitalization at each annual reconstitution period. The Russell 2500 Index represents a smallpercentage of the total market capitalization of the Russell 3000 Index. It is considered to be generally representative of US Equity Small andMid Cap performance.Russell 2500 Growth Index - Measures the performance of those Russell 2500 companies with higher price-to-book ratios and higherforecasted growth values than those in the Russell 2500 Value Index.Russell 2500 Value Index - Measures the performance of those Russell 2500 companies with lower price-to-book ratios and lower forecastedgrowth values than those in the Russell 2500 Growth Index.Russell 3000 Index - Measures the performance of the 3,000 largest US companies based on total market capitalization, which representsnearly the entire market capitalization of the investable US equity market. Frank Russell Co. ranks the US common stocks from largest tosmallest market capitalization at each annual reconstitution period.Russell Midcap Index - Measures the performance of the mid-cap segment of the US equity universe. The Russell Midcap Index includes thesmallest 800 securities in the Russell 1000.Russell Midcap Growth Index - Contains those Russell Midcap (800) securities with a greater-than-average growth orientation. Companies inthis index tend to exhibit higher price-to-book and price-earnings ratios, lower dividend yields and higher forecasted growth values than theValue universe.Russell Midcap Value Index - Contains those Russell Midcap (800) securities with a less-than-average growth orientation. Securities in thisindex generally have lower price-to-book and price-earnings ratios, higher dividend yields and lower forecasted growth values than the Growthuniverse.S&P 500 Index - The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a marketvalue weighted Index (stock price times number of shares outstanding), with each stock’s weight in the Index proportionate to its market value.The Index is one of the most widely used benchmarks of US Equity Large Cap performance.S&P 500/Citigroup Growth Index - Companies in the S&P 500 Index are split into two groups based on price-to-book ratios to create growthand value Indices. The Growth Index contains those with higher price-to-book ratios and represents approximately 50% of the total marketcapitalization of the Index.S&P 500/Citigroup Value Index - Companies in the S&P 500 Index are split into two groups based on price-to-book ratios to create growthand value Indices. The Value Index contains those with lower price-to-book ratios and represents approximately 50% of the total marketcapitalization of the Index.S&P Midcap 400 Index (S&P Midcap): Portfolio characteristics of the S&P Midcap 400 Index consist of 400 domestic stocks chosen formarket size, liquidity, and industry group representation. It is a market value weighted Index and measures the performance of the mid-sizecompany segment of the U.S market.S&P Midcap 400/Citigroup Growth Index - Constructed by dividing the stocks in the S&P Midcap 400 Index according to price-to-bookratios. The Growth Index contains stocks with higher price-to-book ratios than the Value Index.S&P Midcap 400/Citigroup Value Index - Constructed by dividing the stocks in the S&P Midcap 400 Index according to price-to-bookratios. The Value Index contains stocks with lower price-to-book ratios than the Growth Index.S&P 500 Sector/Consumer Discretionary Index - The S&P 500 Sector/Consumer Discretionary Index consists of stocks chosen for theirrepresentation in the Consumer Discretionary industry. The companies in the index tend to be the most sensitive to economic cycles.Manufacturing companies include automative, household durable goods, textiles and apparel, and leisure equipment. Service companiesinclude hotels, restaurants/leisure facilities, media production and services, consumer retailing and services and education services. It is amarket value weighted Index (stock price times number of shares outstanding), with each stock’s weight in the Index proportionate to its marketvalue. OAM112210CM4 Page 5 of 6
  6. 6. S&P 500 Sector/Consumer Staples Index - The S&P 500 Sector/Consumer Staples Index consists of stocks chosen for their representation inthe Consumer Staples industry. The companies in the index tend to be the less sensitive to economic cycles. They include manufacturers anddistributors of food, beverages and tobacco, and producers of non-durable household goods and personal products; also food and drug retailingcompanies. It is a market value weighted Index (stock price times number of shares outstanding), with each stock’s weight in the Indexproportionate to its market value.S&P 500 Sector/Energy Index - The S&P 500 Sector/Energy Index consists of stocks chosen for their representation in the Energy industry.The companies in the index are dominated by either the construction ofr provision of oil rigs, drilling equipment and other energy-relatedservice and equipment or the exploration, production, marketing, refining and/or transportation of oil and gas products, coal and consumablefuels. It is a market value weighted Index (stock price times number of shares outstanding), with each stock’s weight in the Index proportionateto its market value.S&P 500 Sector/Financials TR Index - The S&P 500 Sector/Financials Index consists of stocks chosen for their representation in theFinancials industry. The companies in the index are involved in activities such as banking, consumer finance, investment banking andbrokerage, asset management, insurance and investments, and real estate, including REITs. It is a market value weighted Index (stock pricetimes number of shares outstanding), with each stock’s weight in the Index proportionate to its market value.S&P 500 Sector/Healthcare TR Index - The S&P 500 Sector/Healthcare Index consists of stocks chosen for their representation in theHealthcare industry. The companies in the index are involved in health care equpiment and supplies, health care-related services, or in theresearch, development, production and marketing of pharmaceuticals and biotechnology products. It is a market value weighted Index (stockrice times number of shares outstanding), with each stock’s weight in the Index proportionate to its market value.S&P 500 Sector/Industrials TR Index - The S&P 500 Sector/Industrials Index consists of stocks chosen for their representation in theIndustrials industry. Companies include those that manufacture and distribute capital goods (i.e. aerospace/defense, construction, engineeringand building products, electrical equipment and industrial machinery); provide commercial services and supplies (i.e. printing, employment,environmental/office services); or provide transportation services (i.e. airlines, couriers, marine, road/rail and transportation infrastructure). Itis a market value weighted Index (stock rice times number of shares outstanding), with each stock’s weight in the Index proportionate to itsmarket value.S&P 500 Sector/Information Technology TR Index - The S&P 500 Sector/Information Technology Index consists of stocks chosen for theirrepresentation in the Info Tech industry. Companies considered are involved in technology software and services amd technology hardwareand equipment. It is a market value weighted Index (stock rice times number of shares outstanding), with each stock’s weight in the Indexproportionate to its market value.S&P 500 Sector/Materials TR Index - The S&P 500 Sector/Materials Index consists of stocks chosen for their representation in the Materialsindustry. These include companies that manufacture chemicals, construction materials, glass, paper, forest products and related packagingproducts, metals, minerals and minig companies, including steel producers. It is a market value weighted Index (stock rice times number ofshares outstanding), with each stock’s weight in the Index proportionate to its market value.S&P 500 Sector/Telecommunication Services TR Index - The S&P 500 Sector/Telecom Services Index consists of stocks chosen for theirrepresentation in the Telecom industry. The companies in the index are involved in health care equpiment and supplies, health care-relatedservices, or in the research, development, production and marketing of pharmaceuticals and biotechnology products. It is a market valueweighted Index (stock rice times number of shares outstanding), with each stock’s weight in the Index proportionate to its market value.S&P 500 Sector/Utilities TR Index - The S&P 500 Sector/Utilities Index consists of stocks chosen for their representation in the Utilitiesindustry. Companies considered include electric, gas or water utilities, or companies that operate as independent prducers and/or distributors ofpower. It is a market value weighted Index (stock rice times number of shares outstanding), with each stock’s weight in the Index proportionateto its market value.Wilshire 5000 - A comprehensive market-capitalization-weighted index composed of over 6,500 stocks. Stocks traded on the New York StockExchange represent approximately 77% of the value of the index.This report is intended for informational purposes only. The information and statistical data contained herein have been obtained fromsources we believe to be reliable. No part of this report may be reproduced in any manner without the written permission of OppenheimerAsset Management or any of its affiliates. Any securities discussed should not be construed as a recommendation to buy or sell and there isno guarantee that these securities will be held for a client’s account nor should it be assumed that they were or will be profitable. TheConsulting Group is a division of Oppenheimer Asset Management. Oppenheimer Asset Management is the name by which OppenheimerAsset Management Inc. (“OAM”) does business. OAM is an indirect, wholly owned subsidiary of Oppenheimer Holdings Inc., which is alsothe indirect parent of Oppenheimer & Co. Inc. (“Oppenheimer”). Oppenheimer is a registered investment adviser and broker dealer.Securities are offered through Oppenheimer. OAM112210CM4 OAM112210CM4 Page 6 of 6

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