It starts with comprehensive research from State Street Global Advisors

CI Investment Consulting uses asset mix research and recommendations from State Street Global Advisors and its Investment Solutions Group to help craft Portfolio Series' efficient strategic asset allocation portfolios.

State Street Global Advisors

With US$2.3 billion* in assets under management, 27 offices worldwide and more than 2,500 employees, State Street Global Advisors is one of the largest investment management companies in the world.

*As of March 31, 2016

Asset allocation specialists

State Street Global Advisors' Investment Solutions Group consists of over 70 investment professionals with multi-asset class experience managing more than US$2.3 billion** in global asset allocation assets. The team, supported by currency specialists and economists, analyzes each asset class from both a top-down perspective (economic variables, trends, historical relationships) and from a bottom-up perspective (fundamental variables). Factors such as interest rates, inflation, and productivity are analyzed to form expectations for future economic growth of various countries. This information helps to shape expectations of companies' earnings growth and valuations to calculate anticipated returns.

**As of March 31, 2016