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·VJRWRWKHPRRQ 52$'0$3 3KDVH 3UH$LUGURSV(YHQW 3DQFDNH6ZDS5HDG\ :HEVLWH5HDG\ 6DYH8NUDLQH)XQG'RQDWLRQ6WDUWHG²DIWHU+YROXPH!N 3KDVH 0D 0DUNHWLQJ.2/%UDQGLQJRQ<RXWXEH,QVWDJUDP)DFHERRN 0RUH&KDUDFWHURI 'HPRQ6OD\HUV/DXQFKHG²DLUGURSVIRUH[LVWLQJ+2'/(5 1)7'HVLJQ&RQWHVW/DXQFK 1)7/DXQFK²%LQDQFH1)7 $LUGURSWRWRSWRNHQ+ROGHU 'HPRQ6OD\HUV&RUSV/DXQFK²YRWHIRUIROORZLQJSURMHFWV 3KDVH 1)7*DPH)L/DXQFK²3& $0$ $0$ 3K\VLFDO.2/(YHQWDQG0HUFKDQGLVH 1)7*DPH)L/DXQFK²L26$QGURLG 3KDVH 'HPRQ6OD\HU0HWDYHUVH/DXQFK 1)7*$0(35(9,(: