Market Review & Outlook template client slide

1. Market Review & Outlooktemplate client slide • Strong first quarter returns were driven by • Continued liquidity introduced into economy by central banks • But March reminded us that the Euro crisis remains unresolved • We should be cautious in the near term and there is cause for concern, but remaining calm is vital • Coordinated efforts to boost regional economies are dwindling • The bullish investment environment so far calls for caution • US has sustained positive, but modest growth • Eurozone is a real cause for concern • Japan is all-in • China’s policy mix is turning defensive again Above all, stay invested, remain diversified, and be mindful of the emotional rollercoaster