…we are recommending our client exit any remaining Pimco funds under the premise that it's better to be out first than last. A similar fund that we do like and have been using for years is the Strategic Income Opportunity Fund run by Rick Reider at Blackrock. With your permission we will sell the Pimco Position today and replace it with the Blackrock fund, the overview is attached here. Thanks, Lyle CONFIDENTIAL UBSTERRAMAR00000653 EFTA00236352 Lyle Casricl Senior Vice President…