Nomura Asset Management U.S.A. Inc. (“NAM-USA”) is based in New York City and provides investment advisory and investment management services. NAM-USA is a wholly owned subsidiary of Nomura Asset Management Co., Ltd. which is wholly owned by Nomura Holdings, Inc. (“NHI”), a Japanese public company. NAM-USA is organized as a New York corporation and, through a predecessor firm, has been registered as an investment adviser with the U.S. Securities and Exchange Commission (“SEC”) since 1976.

Nomura Asset Management U.S.A. Inc. (“NAM-USA”) is part of the NAM Group. NAM-USA will delegate investment discretion and trading authority to one or more of its affiliates for all client accounts. The investment philosophies, strategies and teams described herein are those of a NAM-USA affiliate. This website is a general communication. It is being provided for information purposes only, and is subject to change without notice. Nothing herein is intended to constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Any examples used in this material are generic, hypothetical and for illustration purposes only. The views and strategies described may not be suitable for all investors. Investing involves risk.