EFTA00236349.pdf

Message From: Casriel, Lyle [- Sent: 9/26/2014 1:45:01 PM To: G Maxwell [GMax1@ellmax.comj CC: Klein, Matthew I I ]; Stackman, Scott Subject: ~CO Attachments: oef-strategic-income-opportunities-fund-fact-sheet 6.30.14.pdf ; Ramdeen, Vijai I I; Shkreli, Juliana Ghislaine, J; Waldron, Chelsey Devon Hope you are well. This morning it was announced that Bill Gross is leaving Pimco for Janus as of next Monday. You have a position in the Pimco Unconstrained Bond fund managed by Bill with a value of 163k and an unrealized loss of 3k. We don't have much Pimco exposure left for our clients as we began exiting earlier this year when the infighting at Pimco began. At this time, however, 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 Lyle Casriel Senior Vice President — Investments Private Wealth Advisor I Portfolio Manager Advisory IL Brokerage Services UBS Financial Services Inc. Private Wealth Management 299 Park Avenue. 25th Floor New York, NY 10171 Tel Fax www.ubs.com/privatewealthmanagement "Disclaimer" Please ravt my welnae at hop: linamialservicetmc.iihteonswealthE-maddaclaimerhimIJOr important disclosures and apannation about our e-madpnhner. For your protection. pleate do not transmit orders at • instructions by e.inail or include account numbers. Social Security numbers. cr-nht card numbers. passwords. or other personal information VAS requires that ally Orekn sent by email he wrhally confirmed orders sent by email alone will not he award The roformation contained herein has been obtained from sources beihvedlo he reliable. we cannot guarantee its accuracy or completeness neither the information nor any opinion erpressed constitutes a solicitation for the purchase or sale of any security This information is hem provided as a service ablMr Financial Advisor and does not supersede or replace your monthly (IRS Financial Services Inc. customer statement. Please be advised that enformation pertaining to trades of any securities it liar an official tninsaction confirmation. The gt/kial confirmation of any Puma:loon will he sent to ;vni lured on your delzwryprcfrrences. UBS e-Delivery: easy. efficient. ecosmart. secure. CONFIDENTIAL UBSTERRAMAR00000650 EFTA00236349