EFTA01369435

Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 On Apr 21, 2017, at 1:44 PM, Stewart Oldfield < > wrote: Rich, I'm just back from 10 days in Maui with a whole set of recommendations for you. You're going to have an awesome time. Do you have time to chat next week about risk premia investing? Think of it as systematic trading to extract risk premia (curve structure, volatility, etc.) across asset classes. Basically what most hedge funds do, but in a more liquid and transparent fashion and with lower fees. It might appeal to JE since he could tailor the investment strategies and employ efficient leverage or portfolio hedging alongside. I would like to get you on the phone with Audie Apple from our team to give you a better overview and see if makes sense to try to advance the discussion on your side. Hope all is well. Stew <image003. png> Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management P rk A n New York. NY 10154 Email Securities offered through Deutsche Bank Securities Inc This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0061695 CONFIDENTIAL SDNY_GM_00207879 EFTA01369435