Terry Berkemeier

Capital Guardian Trust Co. (CGTC) is a registered investment advisor headquartered in Los Angeles, California. The firm is a wholly-owned subsidiary of Capital Group International, Inc., ultimately held by The Capital Group Cos., Inc. The Capital Group Companies form one of the most experienced families of investment management firms in the world, dating to 1931, and have always been privately held. CGTC was chartered in 1968 under California banking laws as a non-depository trust company. They provides investment management and advisory services to large corporate and public pension plans, financial institutions, registered investment companies, endowments and foundations, foreign investors, and certain affiliated companies. In addition, the firm serves as the investment advisor to the trustee for privately-offered collective investment trusts that are exempt from SEC registration. CGTC also provides investment management to individuals, corporations, foundations, trusts and other investors through wrap fee programs or separate account client programs. The firm provides investment management and trust services to high net-worth individuals and trusts through the Capital Group Private Client Services (CGPCS) division.

In 1915 Charles Edward Merrill founded Merrill Lynch & Co. (NYSE: MER) with Edmund C. Lynch in Baltimore, Maryland. The modern Merrill Lynch was formed in 1940 through mergers with E.A. Pierce & Cassatt and, soon after, Fenner & Beane. In 1973, Merrill Lynch adopted a holding company format, with Merrill Lynch & Co., Inc. as the parent and Merrill Lynch, Pierce, Fenner & Smith as the operating subsidiary. Merrill Lynch Asset Management, Inc. (MLAM) was created as an integral business unit in the Merrill Lynch family in 1976. Fund Asset Management, doing business as Mercury Asset Management, was acquired in December 1997. In 2000, MLAM and Mercury were combined under the name Merrill Lynch Investment Managers. MLAM manages the Merrill Lynch family of mutual funds, as and acts as sub-advisor to other mutual funds.