Not for Distribution For Key Client Partner Clients or U.S. Institutional Investors. Not for Retail Distribution ❑ CONFIDENTIAL Risk Premia /Alternative Beta: Liquid Alternatives for Diversification Q1 2017 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6. DB-SDNY-0054979 CONFIDENTIAL SDNY_GM_00201163 EFTA01364442