IMPORTANT INFORMATION ABOUT INVESTMENT
IMPORTANT INFORMATION ABOUTINVESTMENT MANAGERSTRADING AWAY INCITIGROUP GLOBAL MARKETS, INC.’SINVESTMENT ADVISORY PROGRAMSJuly 1, 2020 – June 30, 2021This document provides information about “trading away” practices of third-party investment managers and oneaffiliated investment manager (the “Managers”) who have discretion to manage client accounts (or portions ofclient accounts) in investment advisory programs offered by Citigroup Global Markets Inc. (“CGMI”). As part of thatdiscretion, the Managers select the broker-dealers that execute trade orders for client accounts.1The Managers are required to seek best execution on client trades and have authority to execute trades with thosebroker-dealers that they believe are capable of providing the best qualitative execution under the circumstances.CGMI investment advisory programs are “wrap fee” programs under which a bundled fee pays for CGMI’sinvestment advisory services and CGMI’s execution of client trades (the “CGMI Fee”). When a Manager placesclient trade orders for execution with CGMI, there is not a separate charge for CGMI’s execution services.However, when a Manager decides to direct execution to a broker-dealer other than CGMI (“trading away”), anybrokerage commissions and related costs charged by the other executing broker-dealers charged to the client inaddition to the CGMI Fee. Charges by other broker-dealer executing the transaction may include commissions,markups, markdowns or “spreads” paid to market makers, and other costs. Therefore, the extent to which aManager trades away from CGMI can increase your total cost of investing in a CGMI investment advisory program.Although many Managers execute a substantial percentage of such transactions for clients with CGMI, they may, inseeking to achieve “best execution” for client trade orders, determine to “trade away” from CGMI. Best executionis not necessarily measured by the circumstances surrounding a single transaction but may be sought over timeacross multiple transactions. Although best net price is an important factor in this decision, other factors includethe nature of the security being traded; the size and complexity of the transaction; the desired timing of the trade;the activity existing and expected in the market for the particular securities; confidentiality; execution capabilities;reliability; counterparty financial condition; the availability of capital commitment; and other relevant factors ofthe broker-dealer. Certain managers direct a high percentage, if not all, of their trades to outside broker-dealers;for example, fixed income managers generally direct all of their trades to outside broker-dealers.CGMI has requested information from each of the Managers regarding their trading away practices. Clients shouldconsider carefully any additional trading costs that may be incurred as part of the client decision in selecting orcontinuing to retain a Manager. The information is from July 1, 2020 through June 30, 2021 2020 and based solelyupon the information provided to CGMI by the Managers. Please carefully review the information below as well asthe Form ADV Part 2A brochure of the Managers for more information about their trading practices. Theinformation below has not been independently verified by CGMI and CGMI does not make any representation asto its accuracy. Past practices are not necessarily indicative of current or future practices and it is possible that theManagers will trade away more frequently and at higher costs in the future.If the Manager you have selected or are considering is not listed below, please contact your CGMI representativefor more information.INVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade Away12th Street Opportunity0.00%none12th Street Small Cap Value0.00%noneAB Concentrated IntlGrowth ADR (MA)0.00%noneAllianceBernsteinConcentrated Growth0.00%noneAllianceBernstein StratResrch Large Cap CoreBalanced0.00%noneAllianceBernstein StrategicResearch Portfolio0.00%none65.34%noneCapital Group InternationalEquity SMA0.00%noneAnchor Mid Cap Value Eq0.00%noneAristotle CapitalInternational Equity ADR0.00%noneAristotle Credit High YieldESG100.00%noneAristotle Credit ShortDuration High Yield Bond100.00%noneAtalanta Sosnoff Large CapCore Equity0.00%noneAtalanta Sosnoff Lg eAllianceBernstein TaxAware Fixed IncomeAtlanta Capital High QualitySMID CapBaron High GrowthBelle Haven Taxable LadderPLUSManager CommentsINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayBelle Haven Taxable PLUSSMA100.00%noneBelle Haven Taxable PLUSWRAP100.00%noneBlackRock 60/40 TA UCITSETF0.00%none100.00%noneBlackRock Equity Dividend0.00%noneBlackRock Large Cap Core0.00%noneBlackRock Large Cap Value0.00%noneBlackRock Liability DrivenInvesting (LDI) SMA100.00%noneBlackRock Short Duration100.00%noneBlackrock Target Allocation40/600.00%noneBlackrock Target Allocation40/60 - ETF Only0.00%noneBlackrock Target Allocation60/400.00%noneBlackrock Target Allocation60/40 - ETF Only0.00%noneBlackrock Target Allocation80/200.00%noneBlackrock Target Allocation80/20 - ETF Only0.00%noneBlackrock Target Allocation90/100.00%noneBlackrock Target Allocation90/10 - ETF Only0.00%noneBoston Common Intl Eq SRI0.00%noneBlackRock Core BondManager CommentsINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayBrandes Global (ADR)Equity43.83%13.57 BPS, 0.95 CPSBrandes Global Small-MidCap Equity ADR0.00%noneBristol Gate US Equity U 0.00%noneBrown Advisory Large Cap Growth0.00%noneBrown Advisory Lg-CapSustainable Growth0.00%noneCambiar Investors LargeCap Value Equity0.00%noneCincinnati Broad MarketBond95.00%noneColumbia Select Large CapValue0.00%noneConfluence EmergingMarket ADR0.00%noneCushing MLP Core Strategy0.00%noneDelaware IntermediateAggregate Duration US Gov37.50%6BPSDelaware International ADR37.50%6BPS100.00%noneEarnest PartnersInternational Equity ADR0.00%noneEaton Vance Large CapValue0.00%noneParametric Custom Core S&P 4000.00%none0.91%noneDMC Core PlusParametric Custom CoreDeveloped InternationalManager CommentsINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayManager CommentsADR (MSCI EAFE) - TaxMgdParametric Custom CoreFundamental US (FTSERAFI U.S. 1000 QSR) - TaxMgd0.00%noneParametric Custom CoreGlobal ADR (MSCI ACWI) Tax Mgd0.21%.5cpsParametric Custom Core USBroad Cap (Russell 3000) Tax Mgd0.00%noneParametric Custom Core USLarge Cap (S&P 500) - TaxMgd0.00%.5cpsParametric Custom Core USLarge-Mid Cap (Russell1000) - Tax Mgd0.00%noneParametric Custom Core USSmall Cap (S&P 600) - TaxMgd0.00%noneParametric EnhancedIncome0.88%.5cpsParametric EnhancedIncome Core25.16%.5cpsParametric EnhancedIncome Tax-AdvantagedCore19.73%.5cpsParametric Interm Muni Bd100.00%noneParametric Long Term MuniBd100.00%noneParametric PortfolioAssociates-ParametricGlobal Dividend Achieversex-EM (Lozier0.00%noneParametric Short MunicipalBond100.00%noneINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade Away0.00%noneParametric TABSIntermediate MaturityMunicipal Bond100.00%noneParametric TABS Laddered(1-8 yr)100.00%noneParametric TABS Laddered(5-15 yr)100.00%noneParametric TABS LimitedMaturity100.00%noneParametric TABS LongTerm Municipal Bond100.00%noneParametric Tax-AdvantagedEnhanced Income0.79%.5cpsParametric US Corp. Ladder1-10 Yr BBB-100.00%noneParametric US Corp. Ladder1-5 Yr BBB-100.00%noneFederated Strategic Value0.00%noneFiera SMID Growth (fkaApex)0.00%noneClearBridge All Cap Growth69.19%1.47Clearbridge All Cap ValueEquity77.98%1.22ClearBridge Appreciation52.52%1.08ClearBridge DividendStrategy59.82%1.51ClearBridge ESGAppreciation80.01%1.10Clearbridge ESG DividendStrategy (Catholic)45.18%1.53Parametric Stock Delta ShiftManager CommentsINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayClearbridge ESG DividendStrategy Portfolios45.18%1.53ClearBridge ESG Large CapGrowth Portfolios36.52%1.23ClearBridge ESG Multi CapGrowth80.47%1.66ClearBridge InternationalGrowth ADR46.63%1.38ClearBridge InternationalGrowth ADR ESG68.70%1.42Clearbridge InternationalValue ADR54.46%0.83ClearBridge Large CapGrowth Equity39.54%1.27Clearbridge Large CapValue Equity74.37%1.23ClearBridge Mid Cap62.28%noneClearBridge Multi-CapGrowth Equity69.26%1.61100.00%noneClearBridge SustainabilityLeaders Strategy92.71%noneFranklin Intermediate Muni0.00%noneFranklin NextStepConservative0.00%noneFranklin NextStepConservative - ETF Only0.00%noneFranklin NextStep Growth0.00%noneFranklin NextStep Growth ETF Only0.00%noneFranklin NextStep Income0.00%noneClearBridge Municipal BondSMAManager CommentsINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayFranklin NextStep Income ETF Only0.00%noneFranklin NextStep Moderate0.00%noneFranklin NextStep Moderate- ETF Only0.00%noneFranklin NextStep RisingRates0.00%noneFranklin NextStep RisingRates - ETF Only0.00%noneLegg Mason All Cap GrowthBalanced Tax Favored(70/30)Legg Mason All Cap GrowthBalanced Taxable 60/40Legg Mason All Cap ValueBalancedLegg Mason AppreciationBalanced Portfolios19.85%45.64%3.56%49.01%Manager Comments1.52Responses for all balancedstrategies only include theequity portion of thestrategy1.48Responses for all balancedstrategies only include theequity portion of thestrategy0.70Responses for all balancedstrategies only include theequity portion of thestrategy1.11Responses for all balancedstrategies only include theequity portion of thestrategyResponses for all balancedstrategies only include theequity portion of thestrategyLegg Mason AppreciationBalanced Tax Favored70/3054.23%1.12Legg Mason Bal Income(60/40)89.06%0.40Responses for all balancedstrategies only include theINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayManager Commentsequity portion of thestrategy0.40Responses for all balancedstrategies only include theequity portion of thestrategynoneResponses for all balancedstrategies only include theequity portion of thestrategynoneResponses for all balancedstrategies only include theequity portion of thestrategy1.50Responses for all balancedstrategies only include theequity portion of thestrategy1.48Responses for all balancedstrategies only include theequity portion of thestrategy80.48%1.50Responses for all balancedstrategies only include theequity portion of thestrategyLegg Mason ESG GlobalEquity SMA0.00%noneLegg Mason Large CapGrowth Balanced Taxable80.73%1.25Legg Mason Bal Income(70/30)Legg Mason BalancedIncome w/ Muni PortfoliosLegg Mason DividendStrategy Balanced PortfoliosLegg Mason DividendStrategy Balanced TaxFavored (60/40)Legg Mason DividendStrategy Balanced TaxFavored (70/30)Legg Mason DividendStrategy Balanced es for all balancedstrategies only include theINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayManager Commentsequity portion of thestrategyLegg Mason Large CapGrowth ESG BalancedTaxable80.73%1.25Western Asset Active BondAggregate Portfolios100.00%noneWestern Asset Active BondGov/Corp Portfolio100.00%noneWestern Asset Active BondIntermediate Portfolios100.00%noneWestern Asset Core Plus(UCITS SMASh) SMA100.00%noneWestern Asset Core PlusPortfolios *U.S. only*100.00%noneWestern Asset CorePortfolios *US only*100.00%noneWestern Asset CorporateBond Ladders (1-10 Year)100.00%noneWestern Asset CorporateBond Ladders (1-5 Year)100.00%noneWestern Asset CurrentMarket Muni- state specific100.00%noneWestern Asset CurrentMarket Municipal Portfolio100.00%noneWestern Asset Custom(Long Duration)100.00%noneWestern Asset Gov/CorpBond100.00%noneWestern Asset GSM 3100.00%noneWestern Asset GSM 5100.00%noneResponses for all balancedstrategies only include theequity portion of thestrategyINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayWestern Asset GSM 7 year100.00%noneWestern Asset Short TermMuni Portfolios100.00%noneWestern Asset Tax EfficientFixed Income0.00%noneGlenmede ResponsibleESG US Equity0.00%noneGlenmede Small Cap Equity0.00%noneGoldman Sachs Beta 100.00%noneGoldman Sachs BufferedBeta100.00%noneGoldman Sachs BufferedYield100.00%noneGSAM Non-US EquityIncome SMA0.00%noneGreat Lakes DisciplinedSMID Cap0.00%noneGreat Lakes DisciplinedSMidCap ESG0.00%noneHarding Loevner Global EqADRHarding LoevnerInternational Equity ADRHGK Large Cap ValueEquityManager CommentsnoneThere were no activeaccounts in the coveredtime period.53.50%1.4 bps*Fees include commission,local market taxes/feesand ADR conversion costs(or credits in the case ofcreating unsponsoredADRs).0.00%none0.00%INVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayIncome Partners South EastAsia & India Credit Portfolio100.00%noneInvesco Balanced0.00%noneInvesco Conservative0.00%noneInvesco Diversified DividendSMA0.00%noneInvesco Growth0.00%noneInvesco Income0.00%none18.94%noneInvesco Moderate0.00%noneInvesco Moderate Growth0.00%noneJanus Henderson Gbl LifeSciences ADR MA0.00%none90%-100%The commission rate charged forthe execution of a non-US equitysecurity is generally 0.03 pershare, and it is normally imputedin the net price of the trade. Theadditional ADR conversion feegenerally can range from a 0.04credit to 0.05 per share debit,depending on the type ofconversion.Invesco InternationalGrowth Equity ADRLazard Emerging MarketsEquity Select ADRLazard Emerging Mkts CoreEq Sel ADR-SMA90%-100%Manager CommentsFor fixed incomesecurities, no commissionapplied.The commission rate charged forthe execution of a non-US equitysecurity is generally 0.03 pershare, and it is normally imputedin the net price of the trade. TheINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayManager Commentsadditional ADR conversion feegenerally can range from a 0.04credit to 0.05 per share debit,depending on the type ofconversion.90%-100%The commission rate charged forthe execution of a non-US equitysecurity is generally 0.03 pershare, and it is normally imputedin the net price of the trade. Theadditional ADR conversion feegenerally can range from a 0.04credit to 0.05 per share debit,depending on the type ofconversion.Lazard International EquitySelect ADR90%-100%The commission rate charged forthe execution of a non-US equitysecurity is generally 0.03 pershare, and it is normally imputedin the net price of the trade. Theadditional ADR conversion feegenerally can range from a 0.04credit to 0.05 per share debit,depending on the type ofconversion.Leuthold Weeden Capital Core Strategy0.00%noneLord Abbett & Co. IntermMunicipal MA95.00%noneLord Abbett All Cap Value0.00%noneLord Abbett Large CapValue Equity0.00%noneLazard European EquitySelect ADRINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade Away99.00%none0.00%noneMadison IntermediateCorporate Bond100.00%noneMadison Mid Cap Core100.00%none90.40%noneMiller Howard IncomeEquity (w/o MLPs)0.00%noneMiller Howard IncomeEquity with MLPs0.00%noneMiller Howard MasterLimited Partnership (MLP)Strategy0.00%noneMiller Howard Utilities Plus0.00%noneLoomis Sayles MediumDuration Municipal Bond0.00%noneNatixis / AIA Equity CorePlus Tax Managed0.00%noneNatixis / WCM QualityGlobal Growth0.00%noneNatixis/Mirova Global SustEquity ADR0.00%noneVaughan Nelson SelectEquity0.00%noneWCM Focused GrowthInternational ADR0.00%noneWCM Quality Global Growth0.00%noneNeuberger Berman BoltonLarge Cap Core0.00%noneLord Abbett MunicipalMadison High QualityIntermediate Govt/CorpBondMacKay ShieldsConvertiblesManager CommentsINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayNeuberger Berman EMEADR SMA0.00%noneNeuberger Berman LargeCap Discip Growth0.00%noneNeuberger BermanSustainable Equity0.00%none100.00%For secondary market trades,dealer trading mark-ups typicallyrange from 1 to 10 basis points (afew cents to several dollars) perbond depending on severalfactors, including position size,market strength or weakness andholding period among others. Forprimary market (new issue)trades, there are no additionaltrading costs100.00%For secondary market trades,dealer trading mark-ups typicallyrange from 1 to 10 basis points (afew cents to several dollars) perbond depending on severalfactors, including position size,market strength or weakness andholding period among others. Forprimary market (new issue)trades, there are no additionaltrading costsNuveen Intermediate HQMunicipal BondNuveen Limited MaturityMunicipal BondNuveen Total Return MuniBd53.00%Manager CommentsFor secondary market trades,dealer trading mark-ups typicallyrange from 1 to 10 basis points (afew cents to several dollars) perbond depending on severalfactors, including position size,INVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayManager Commentsmarket strength or weakness andholding period among others. Forprimary market (new issue)trades, there are no additionaltrading costsNWQ International ValueADR SMA0.00%noneSanta Barbara DividendGrowth0.00%noneWinslow Large Cap Growth0.00%none82.00%nonePIMCO Real Return100.00%nonePIMCO Total Return100.00%nonePolen Global Growth0.00%nonePolen Large Cap Growth0.00%noneEDGE Small/Mid CapDividend Income (withoutMLPs)0.00%nonePrincipal REIT0.00%nonePrincipal SpectrumPreferred Non-ResidentClient28-37%nonePrincipal SpectrumPreferred Securities90-99%nonePrincipal SpectrumPreferred Tax Adv90-99%noneRenaissance InternationalEquity ADR0.00%noneRenaissance Large CapGrowth Equity0.00%nonePenn Capital Small-MidCore EqINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayRiverbridge SMID CapGrowth0.00%noneBoston Partners Sm-MidCap Value (f/k/a Robeco)0.00%noneRSW Low DurationMunicipal100.00%noneRSW Market DurationMunicipal100.00%noneSage Intermediate FixedIncome100.00%noneSage Long Duration LDI (710 year)100.00%noneSage Short Term100.00%noneSands Capital Large CapGrowth0.00%noneSchafer Cullen HighDividend Value Equity0.00%noneSchafer Cullen Intl High DivADR0.00%noneScharf Large Cap Core0.00%noneSegall Bryant and HamillSMID Cap0.00%noneSeizert Capital PartnersLarge Cap Value0.00%noneSGI U.S. Large Cap Equity0.00%noneThe London CompanyIncome Equity0.00%noneThe London Company SmallCap Core0.00%noneThe London CompanySmall-Mid Cap Core0.00%noneManager CommentsINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayThornburg Intl Value ADRManager Comments2-3 cps Additional cost figure isthe average of broker commission(including any portion that may be 1% Based onconsidered soft dollar), ADRmodel trades conversion fee (5cps credit to 5cpsonlydebit), and local market fees.Kayne Anderson Sm CpQuality Value100.00%noneNFJ Dividend Value Eq100.00%noneSeix Core Bond100.00%noneSeix High Yield Bond100.00%noneWasmer Schroeder CoreTaxable Fixed Income100.00%noneWasmer Schroeder IntermTaxable Fixed Income100.00%noneWasmer Schroeder IntermTaxable Fixed IncomePLUS100.00%noneWasmer SchroederIntermediate Tax ExemptFixed Income100.00%noneWasmer Schroeder PositiveImpact Tax Exempt FixedIncome Strategy100.00%noneWasmer Schroeder PositiveImpact Taxable FixedIncome Strategy100.00%noneWasmer Schroeder ShortTerm Taxable Fixed Income100.00%noneWasmer SchroederStrategic Tax Exempt FixedIncome100.00%noneWasmer Schroeder UltraShort Taxable Fixed Income100.00%noneINVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Dollar-WeightedAdditional Cost Incurred By ClientsPercentage ofParticipating in those TradesManager / StrategyCGMI Client(cps cents per share; bps basisTradespoints per share)"Trade AwayWS Core IG Credit100.00%noneWS Short Tax Exempt100.00%noneWells Fargo CoreBuilderMunicipal Income7/1/2012/31/20 87%1/1/21 –6/30/21 40%noneWells Fargo FundamentalLarge Cap Select Growth0.00%noneWells Fargo FundamentalSMID Cap Growth Equity0.00%noneWells Fargo Golden CapitalSmall-Mid Core Equity0.00%noneWilliam Blair All Gr0.00%noneZacks All Cap Core0.00%noneZacks Dividend Strategy0.00%noneZiegler Large Cap ValueDividend Select0.00%noneZiegler Red Granite LargeCap Growth0.00%noneManager Comments1If CGMI exercises discretion in the program selected by the client, either directly or in connection with the implementation of a modelprovided by a Manager, client trades are not ordinarily traded away.2Citi Investment Management (“CIM”) is a business unit of Citibank, N.A. and affiliated with CGMI. Clients electing CIM proprietary strategiesin these CGMI advisory programs separately pay trading and execution costs incurred by CIM. In Multi-Asset Class Solutions DiscretionaryBespoke, the CGMI Fee that clients pay include CIM’s management fee. In Multi-Asset Class Solutions Non-Discretionary Bespoke, clients payCIM management fee in addition to the CGMI Fee3Citi Investment Management is a business unit of Citibank, N.A. and affiliated with CGMI.INVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Citi Private Advisory, LLC, Citigroup Global Markets, Inc. and Citibank, N.A. are affiliated companies under thecommon control of Citigroup Inc. Citi and Citi with Arc Design are registered service marks of Citigroup Inc. or itsaffiliates, and are used and registered throughout the world.INVESTMENT PRODUCTS: NOT FDIC INSURED *NO BANK GUARANTEE* MAY LOSE VALUE
Baron High Growth 0.00% none BlackRock 60/40 TA UCITS ETF 0.00% none BlackRock Core Bond 100.00% none . Blackrock Target Allocation 40/60 0.00% none Blackrock Target Allocation 40/60 . Franklin NextStep Moderate 0
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