EFTA Document EFTA01462197

Executive Summary ■ Deutsche Bank Securities Inc ("DB") is pleased to provide an overview of the Collateralized Loan Obligation ("CLO") market opportunity ■ Bank loans strategies have grown in popularity due to the unique features of the loan asset class (ie: senior secured status, attractive cash coupons and floating rate) ■ At present, these assets yield roughly 4.6%, with inherent downside protection arising from senior security. As such, loans offer an attractive risk-adjusted return