Rooney: Both of these categories of global equity and high yield we recognize as gaps in our lineup and we feel that these categories are poised for growth in the next three to five years so we wanted to meet that need within our lineup. We see adoptions as a way to bring products to market quicker than a traditional fund launch so we struck a deal with UBS and we think it is a beneficial deal for both organizations and the shareholders.
Are you looking to adopt more UBS funds or funds from other providers?
We have a strategy in place to look at adoption as a way to continue the growth strategy that we put in place earlier this year. We don't have other UBS funds that we are currently evaluating but we do think that adoption affords us an opportunity to further our growth strategy to bring products quicker to market. We have some opportunities that we're looking at right now but I can't go into specifics on them but we do think is an attractive way to build out the retail product line. I think we will continue to build out the product line in early 2013. It's a conversation that we have with many firms.
Are you looking mainly at U.S.-based funds or globally?
We do think that there are opportunities for more global products and so while we look at domestic opportunities, we're also looking globally. We're also continually looking at ways to improve the existing fund lineup so earlier this year we eliminated redemption fees on our retail funds. But we're not looking to hit a number of new products or managers. We're looking at product management and the needs of advisors and shareholders in the future.
