We’re aware of errors regarding dates used to generate values in the Q3 and Q4 statements for all Preferred Series for high-net-worth clients. We’re investigating the issues related to the Q4 statements and plan to reissue statements to clients. We’ll also include a letter explaining why they are receiving a second Q4 statement.

You’ll also be informed as we know more and have a concrete date for mailing the new Q4 statements.

What happened?

Q3 Statements

Incorrect dates -- January 1-September 30, instead of July 1 to September 30 -- were used to generate values. The data in the statements is correct in relation to the dates.

Q4 Statements

We’re investigating an issue related to the opening values in the statements. The closing value, fees and transactions listed in the statements are correct.

We’re working diligently to address this issue, so we can provide corrected statements to your clients as soon as possible.

We apologize for this error and any concern it may have caused your clients.

If you have any questions, please contact your client service specialist.