DISCLOSURE

General Disclaimer

Richard Bernstein Advisors LLC is an investment adviser and a wholly-owned subsidiary of Janus Henderson US (Holdings) Inc. Janus Henderson® and any other trademarks used herein are trademarks of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc.

General Disclaimer and Release Nothing contained herein constitutes tax, legal, insurance or investment advice, or the recommendation of or an offer to sell, or the solicitation of an offer to buy or invest in any investment product, vehicle, service or instrument. Such an offer or solicitation may only be made by delivery to a prospective investor of formal offering materials, including subscription or account documents or forms, which include detailed discussions of the terms of the respective product, vehicle, service or instrument, including the principal risk factors that might impact such a purchase or investment, and which should be reviewed carefully by any such investor before making the decision to invest. RBA information may include statements concerning financial market trends and/or individual stocks, and are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. Historic market trends are not reliable indicators of actual future market behavior or future performance of any particular investment which may differ materially, and should not be relied upon as such. The investment strategy and broad themes discussed herein may be inappropriate for investors depending on their specific investment objectives and financial situation. Information contained in the material has been obtained from sources believed to be reliable, but not guaranteed. You should note that the materials are provided "as is" without any express or implied warranties. Past performance is not a guarantee of future results. All investments involve a degree of risk, including the risk of loss. No part of RBA’s materials may be reproduced in any form, or referred to in any other publication, without express written permission from RBA. Links to appearances and articles by employees of Richard Bernstein Advisors, whether in the press, on television or otherwise, are provided for informational purposes only and in no way should be considered a recommendation of any particular investment product, vehicle, service or instrument or the rendering of investment advice, which must always be evaluated by a prospective investor in consultation with his or her own financial adviser and in light of his or her own circumstances, including the investor's investment horizon, appetite for risk, and ability to withstand a potential loss of some or all of an investment's value. Graphs, charts, and tables are provided for illustrative purposes only. Investing is subject to market risks. Investors acknowledge and accept the potential loss of some or all of an investment's value. Views represented are subject to change at the sole discretion of Richard Bernstein Advisors LLC. Richard Bernstein Advisors LLC does not undertake to advise you of any changes in the views expressed herein.

By using this website, you acknowledge that you have read and understand the foregoing disclaimers and release Richard Bernstein Advisors LLC and its affiliates, members, officers, employees and agents from any and all liability whatsoever relating to your use of this site, any such links, or any information contained herein or in any such appearances or articles (whether accessed through such links or downloaded directly from this website).

DISCLOSURE

Social Media Disclaimers

Richard Bernstein Advisors (RBA) is pleased to be part of the social media community. Our goal is to reach and engage with our clients and strengthen our relationships within the investment community via social media. This account is being monitored by RBA. Any interaction with this account may cause your personal information to be kept in accordance with applicable data privacy laws and RBA’s Privacy Policy.

The opinions and views expressed on our sites are as of the date published and are subject to change without notice. They are for information purposes only and should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation to buy, sell or hold any security, investment strategy or market sector. No forecasts can be guaranteed. Opinions and examples are meant as an illustration of broader themes and are not an indication of trading intent. It is not intended to indicate or imply that any illustration/example mentioned is now or was ever held in any portfolio. RBA and its affiliates may manage investment products with a financial interest in securities mentioned herein and any comments should not be construed as a reflection on the past or future profitability. There is no guarantee that the information supplied is accurate, complete, or timely, nor are there any warranties with regards to the results obtained from its use. Past performance is no guarantee of future results. Investing involves risk, including the possible loss of principal and fluctuation of value. We do not provide specific investment advice or offer recommendations and ask that that you do not either. Information provided is not intended to be and should not be considered tax, legal, or accounting advice.

Follows, replies, "likes", links to, or any interaction with third-party content in no way constitutes RBA’s endorsement of an individual or entity. Additionally, third-party opinions and comments presented on these pages do not represent the opinion of RBA. Third-party posts on our social accounts that might be perceived as a testimonial or endorsement of RBA’s products or services have not been vetted or paid for, unless otherwise indicated, may not be representative of the experience of others, and are not a guarantee of future performance or success.

Because of the regulations governing our industry, we can remove any third-party comment that contains reference to the investment merits of securities or funds, or those that could be construed as an investment testimonial or endorsement of RBA’s products, services, or its employees.

We will also, in our sole discretion, remove comments that are clearly off-topic, make unsupported claims, promote unrelated content or spam, or are believed to be unlawful, abusive, offensive, or inappropriate. Social media platforms are owned by third parties unaffiliated with RBA. RBA does not control, is not responsible for and does not expressly or otherwise adopt or endorse any comments, opinions or expressions made by social media users. Except where noted, RBA accepts no responsibility for content on third-party sites.

Please keep in mind that social media platforms are public spaces. We encourage you to read the terms within each social media site to protect your privacy. Please avoid posting personal or confidential information specific to your account or relationship with RBA.

For customer service questions please contact RBA directly at www.rbadvisors.com/contact/. RBA will not treat any social media post, comment, or update as a formal complaint. If you would like to register a complaint, please contact RBA directly at www.rbadvisors.com/contact/.

The information on our social media sites is intended only for U.S. citizens or residents of the U.S. Nothing on these pages is intended to be, nor should be considered, a solicitation or offering of any investment products or services to investors residing in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.