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The analysis within this report is prepared by the person(s) noted in their capacity as an analyst for Morningstar, Inc. or a subsidiary. The opinions expressed within the report are given in good faith, are as of the date of the report and are subject to change without notice. This commentary may contain certain forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially and/or substantially from any future results, performance or achievements expressed or implied by those projected in the forward-looking statements for any reason. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. Morningstar's Investment Management group includes subsidiaries of Morningstar, Inc. that are authorized in the appropriate jurisdiction to provide advisory services.

The opinions, information, data, and analyses presented herein do not constitute investment advice; are provided as of the date written; and are subject to change without notice. Every effort has been made to ensure the accuracy of the information provided, but Morningstar makes no warranty, express or implied regarding such information. Except as otherwise required by law, Morningstar, Inc. or its subsidiaries shall not be responsible for any trading decisions, damages or losses resulting from, or related to, the information, data, analyses or opinions or their use. This report is for informational purposes only and has no regard to the specific investment objectives, financial situation or needs of any specific recipient. This publication is intended to provide information to assist investors in making their own investment decisions, not to provide investment advice to any specific investor.

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