/Lang (EN-US) /P 10 0 R /S /Artifact /K 664 1387 0 obj 791 0 obj /S /P << 873 0 obj /Lang (EN-US) /Lang (EN-US) /Lang (EN-US) endobj >> /Lang (EN-US) /S /P 2264 0 R 2265 0 R 2265 0 R 2266 0 R 2267 0 R 2268 0 R 2269 0 R 2270 0 R 2271 0 R 2272 0 R endobj /Pg 24 0 R 1600 0 obj << >> >> /Pg 25 0 R /P 6107 0 R /Lang (EN-US) /K 836 endobj endobj << /Pg 22 0 R 317 0 R 318 0 R 319 0 R 320 0 R 321 0 R 322 0 R 323 0 R 324 0 R 325 0 R 326 0 R endobj >> /Pg 25 0 R >> 2763 0 obj 498 0 obj /Pg 22 0 R >> endobj 8 0 obj 958 0 obj /Pg 25 0 R /S /P /S /P /P 5692 0 R /P 10 0 R endobj endobj /P 6475 0 R /Lang (EN-US) << >> >> >> /Lang (EN-US) << /Pg 23 0 R /P 5081 0 R /K 1035 1801 0 obj >> /T () endobj >> /Pg 23 0 R /S /P /Lang (EN-US) 2345 0 obj /Pg 20 0 R >> /K 437 << /S /P 2537 0 obj 262 0 obj >> /Pg 18 0 R >> /K 1440 << endobj /S /Artifact /K 1499 null null 3870 0 R null null null 3871 0 R null 3872 0 R null /S /P /P 5910 0 R 321 0 obj /S /Artifact /Pg 19 0 R /K 1139 1980 0 obj /K 1079 << endobj /P 5649 0 R /Pg 22 0 R /S /Artifact endobj /S /Artifact /K 1110 /Pg 25 0 R /Lang (EN-US) /P 6216 0 R 1545 0 R] /K [1117 1118] endobj endobj 3274 0 obj /Lang (EN-US) endobj 3109 0 obj 2624 0 obj endobj >> 3786 0 obj /Pg 18 0 R /StructParents 12 /Lang (EN-US) /S /P endobj << In fact, in comparison with high-yield and traded loans, the Cliffwater Direct Lending Index (CDLI) has delivered an average yield pickup of 391 basis points (bps) and 547 bps, respectively, since 2005. /Pg 23 0 R << /S /P /Lang (EN-US) /Pg 25 0 R 1530 0 obj /S /Artifact /S /Artifact endobj /Pg 25 0 R /K 1071 >> 1549 0 obj endobj << /K 1460 << endobj endobj << >> /K 1429 /S /P /K 379 endobj /S /Footnote << /Lang (EN-US) /Lang (IT-IT) << >> << /S /Artifact >> 237 0 R 238 0 R 239 0 R 240 0 R 241 0 R 242 0 R 243 0 R 244 0 R 245 0 R 246 0 R /Pg 13 0 R endobj >> /P 5240 0 R /K 28 endobj 1755 0 obj /K 1371 >> 934 0 obj /P 5825 0 R 1407 0 obj >> /S /Artifact /Lang (EN-US) /Pg 24 0 R endobj >> /Pg 24 0 R endobj /P 5741 0 R /P 10 0 R /K 91 /P 10 0 R endobj endobj >> /Pg 14 0 R >> /Pg 24 0 R /K 76 /S /P >> endobj /K 1219 /Pg 22 0 R >> /Pg 23 0 R /K 1287 2683 0 obj 3251 0 obj endobj >> >> /Lang (EN-US) /K 1425 << 823 0 obj /S /Artifact endobj >> /Lang (EN-US) /S /P << /Lang (EN-US) 2404 0 obj /P 4984 0 R endobj /S /P >> /K 1322 /Pg 25 0 R /K 1487 /K 1439 1493 0 obj 682 0 obj 4102 0 obj /Pg 23 0 R /K 449 << /Pg 22 0 R /K 934 << /S /Artifact >> /Lang (EN-US) endobj /K 355 null 1607 0 R null 1608 0 R null 1609 0 R null null null 1610 0 R /Lang (EN-US) endobj 1534 0 obj /K 587 /Lang (EN-US) /P 6482 0 R >> /K 1140 3308 0 obj /Lang (EN-US) >> 546 0 obj endobj /Pg 25 0 R /K 32 << /S /P << endobj /S /Artifact >> /P 4785 0 R 3941 0 obj /P 5710 0 R /Pg 25 0 R 896 0 obj /P 6461 0 R /Pg 23 0 R 3563 0 obj /Pg 24 0 R /S /Artifact >> /Lang (EN-US) /P 6604 0 R >> endobj /K 503 /K 1018 endobj << >> << << /P 6440 0 R /P 33 0 R /K 1403 >> /Underline /Span /S /P >> /Pg 23 0 R null 611 0 R null 612 0 R 613 0 R null 246 0 R 247 0 R 248 0 R 249 0 R >> /P 6294 0 R endobj >> >> 3017 0 R 3018 0 R 3019 0 R 3020 0 R 3021 0 R 3022 0 R 3023 0 R 3024 0 R 3025 0 R 3026 0 R << >> /K 248 /K 735 << /Pg 25 0 R >> 2844 0 obj /S /P /Pg 25 0 R /S /P << endobj >> 907 0 obj 3735 0 obj /K 1302 2594 0 obj 4277 0 obj << /S /Artifact 1162 0 obj /Pg 23 0 R /Lang (EN-US) >> 243 0 obj 1179 0 obj /K 1215 >> endobj 2438 0 obj 2943 0 R null 2944 0 R null 2945 0 R null 2946 0 R 2947 0 R null 2948 0 R 3587 0 obj << /P 5461 0 R 2096 0 R 2097 0 R 2098 0 R 2099 0 R 2100 0 R 2101 0 R 2102 0 R 2103 0 R 2104 0 R 2105 0 R 1771 0 obj /Pg 25 0 R << >> endobj /S /P << >> /S /Artifact /S /P << << /S /Artifact << /S /P /S /P 3818 0 obj >> /S /Artifact /Lang (EN-US) /K 1020 << >> BCRED | Blackstone Private Credit Fund /S /Artifact endobj endobj >> /P 33 0 R 3781 0 obj endobj /S /Artifact >> 1143 0 obj >> /K 1368 3009 0 obj /Pg 18 0 R /P 5729 0 R /Lang (EN-US) >> endobj /S /P 544 0 obj endobj >> /Lang (EN-US) /Pg 24 0 R /K 1401 4062 0 obj 4117 0 obj /Pg 26 0 R >> /Pg 25 0 R 662 0 obj /K 1417 endobj /Pg 23 0 R /Lang (EN-US) >> /K [4525 0 R 4526 0 R 4527 0 R 4528 0 R 4529 0 R 4530 0 R 4531 0 R 4532 0 R 4533 0 R 4534 0 R endobj endobj /Lang (EN-US) /Lang (EN-US) << >> endobj /S /P >> 49 0 obj << /Lang (EN-US) endobj endobj 2999 0 obj /Lang (EN-US) /K 8 3969 0 obj /S /P 721 0 obj << endobj /S /P 3383 0 obj << /S /P /Lang (EN-US) 403 0 obj << /P 5101 0 R >> 2182 0 obj endobj endobj >> >> >> /P 6688 0 R >> /S /P /K 994 endobj /K 534 /Lang (EN-US) /P 10 0 R /K 1187 /K 73 Loan Note: Private debt's growing muscle; Cliffwater issues return forecasts How private debt firms are gaining market share at the large end of the market; Cliffwater issues its latest return forecasts; and caution surrounds real estate. /P 6057 0 R 3827 0 obj 3745 0 obj /K 1262 << /S /Artifact /S /Artifact endobj /P 5097 0 R 2258 0 obj endobj /Pg 24 0 R /P 4699 0 R /S /Artifact endobj 718 0 obj /K 1177 /K 1121 /P 5543 0 R /Pg 19 0 R /Lang (EN-US) << << /Pg 22 0 R >> >> << /Pg 24 0 R /P 6011 0 R 3463 0 obj << << /Pg 24 0 R /Pg 22 0 R /Lang (EN-US) /S /Artifact << << << /S /P << 307 0 R 308 0 R 309 0 R 310 0 R 311 0 R 312 0 R 313 0 R 314 0 R 315 0 R 316 0 R 287 0 R 288 0 R 289 0 R 290 0 R 291 0 R 292 0 R 293 0 R 294 0 R 295 0 R 296 0 R /Pg 24 0 R /K 152 endobj /Lang (EN-US) >> << << /Pg 25 0 R /P 10 0 R >> 1439 0 obj /P 6458 0 R endobj >> << endobj >> /S /Table /Pg 22 0 R /S /P endobj 3669 0 obj 3441 0 obj >> /Pg 24 0 R /K 925 << endobj << /S /P /S /P >> /Pg 25 0 R >> /Lang (EN-US) /K 125 /P 5914 0 R /Pg 25 0 R << /K 1347 2419 0 obj 227 0 R 228 0 R 229 0 R 230 0 R 231 0 R 232 0 R 233 0 R 234 0 R 235 0 R 236 0 R >> << /Pg 25 0 R /P 4714 0 R 1704 0 obj /Pg 24 0 R endobj endobj /Lang (EN-US) << /K [0 443 0 R 42] /S /Artifact >> /P 6741 0 R << << /K 1085 /S /Artifact endobj << /K 1360 The Cliffwater BDC Index (CWBDC) measures the performance of lending-oriented, exchange-traded Business Development Companies, subject to certain eligibility criteria regarding portfolio composition, market capitalization, and dividend history. endobj >> endobj << 3193 0 obj >> /P 5796 0 R /Pg 25 0 R endobj >> /Lang (EN-US) >> /K 53 /Pg 22 0 R /K 1241 endobj 133 0 R] << << /S /P /K 9 2431 0 obj /S /Artifact /K 146 2486 0 obj << << Access to this resource is limited to existing Cliffwater clients and qualified prospects for our Funds, By clicking "Login", I accept Terms of Use, If you are an RIA, institutional investors, or other prospect for Funds, please contact us to gain access, By clicking "Accept", I accept Terms of Use, For more information to login, call (310) 448-5000 or email info@cliffwater.com. << 1643 0 obj /Lang (EN-US) /P 5624 0 R /P 6186 0 R 8 [230 0 R 231 0 R 233 0 R 234 0 R 235 0 R 236 0 R 237 0 R 238 0 R 239 0 R 240 0 R << /K 237 2058 0 obj endobj 3257 0 obj << /S /Artifact /S /P /Pg 22 0 R /Pg 24 0 R /K 1150 << /K 25 >> >> >> << /Marked true /Pg 25 0 R << 943 0 obj /P 5904 0 R /Lang (EN-US) /Border [0 0 0] /S /P >> >> /P 5274 0 R << endobj 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endobj /K 412 1009 0 obj >> >> endobj 3721 0 obj >> /S /Artifact >> /P 5769 0 R /Pg 18 0 R >> 1005 0 obj << << /P 6451 0 R /S /P /P 10 0 R /S /Artifact /K 110 << >> endobj null null null 2599 0 R null null null 2600 0 R null 2601 0 R /K 986 endobj /K 12 << /S /P << >> 908 0 obj /Pg 25 0 R /P 5678 0 R /Lang (EN-US) /S /P << /P 5986 0 R /Lang (EN-US) /Pg 18 0 R 3836 0 obj /S /P /K 1551 << /Lang (EN-US) /Pg 23 0 R /K 1224 /K 1212 << endobj /S /P /S /Artifact 2210 0 obj >> /S /Artifact /K 1482 /Pg 24 0 R endobj /K 1281 /Lang (EN-US) /S /P /K 741 /P 5702 0 R 2591 0 obj >> 409 0 obj << /S /P endobj 1893 0 obj 1505 0 R 1506 0 R 1507 0 R 1508 0 R 1509 0 R 1510 0 R 1511 0 R 1512 0 R 1513 0 R 1514 0 R /Pg 24 0 R /Lang (EN-US) << << 652 0 obj >> /P 5130 0 R endobj Direct lending - Institutional | BlackRock /P 10 0 R 1438 0 obj 3912 0 obj 1214 0 obj /S /P 893 0 obj << endobj /S /P /S /P endobj /K 50 752 0 obj 3872 0 obj 4305 0 obj /Lang (EN-US) /Pg 24 0 R endobj /P 5708 0 R /S /Artifact /S /P << 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Nesbitt (ISBN 978-1-119-94441-6) online kaufen | Sofort-Download - lehmanns.ch 1579 0 obj << 1258 0 obj endobj /Pg 24 0 R << 3676 0 obj /S /Artifact /Pg 25 0 R /Lang (EN-US) /S /P endobj >> /Pg 22 0 R /S /Artifact 2033 0 obj /S /P 802 0 obj /Lang (EN-US) << 3526 0 obj /K 602 /Lang (EN-US) << /Pg 23 0 R endobj /Pg 16 0 R endobj << endobj 3185 0 obj << /P 6219 0 R >> /Pg 24 0 R endobj /S /P << /S /Artifact /Pg 25 0 R /Pg 19 0 R /Pg 24 0 R /S /P /Lang (EN-US) /Pg 23 0 R /Pg 25 0 R endobj /Pg 20 0 R 820 0 obj endobj 688 0 obj /K 1468 /S /P /S /P endobj endobj << 1382 0 obj /Pg 23 0 R >> << >> << << endobj /K 411 2344 0 obj /K 288 /P 6751 0 R >> endobj /Pg 22 0 R /S /Artifact endobj /S /P /S /P endobj 3688 0 obj /P 6152 0 R 497 0 obj /S /P /P 4436 0 R /Lang (EN-US) /Lang (EN-US) /Pg 25 0 R /K 1124 /Pg 25 0 R /K 1250 >> /K 1479 /Pg 22 0 R /Pg 23 0 R /Lang (EN-US) /S /P /S /P /P 4948 0 R >> /Lang (EN-US) /P 6661 0 R << endobj /K 1318 /Lang (EN-US) endobj << endobj << 1168 0 R 1169 0 R 1170 0 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/Lang (EN-US) << >> /Pg 23 0 R /K 1227 >> /S /P << endobj /Pg 22 0 R /Pg 24 0 R << endobj >> << 2819 0 obj << /Lang (EN-US) << >> /Pg 22 0 R << /Pg 17 0 R endobj << >> /Pg 25 0 R endobj 1233 0 obj >> /K 926 /K 1495 endobj endobj 1503 0 obj 2617 0 obj 2990 0 obj /P 4645 0 R << /Pg 26 0 R << `-F%HrI, Survey of Corporate Pension Disclosures for Fiscal Years Ending 2003. /S /Artifact << endobj /Lang (EN-US) /Pg 23 0 R >> /S /Artifact /S /Figure >> /Pg 24 0 R >> /K 1389 423 0 obj endobj /Pg 23 0 R << << /P 10 0 R /Lang (EN-US) null 3600 0 R null null null 3601 0 R null null null 3602 0 R endobj >> /K 1505 /S /P /Pg 24 0 R << /Pg 25 0 R /S /Artifact /H /I >> << /K 1317 738 0 obj endobj endobj endobj /S /Sect /S /Artifact /Pg 22 0 R endobj /Pg 22 0 R 1396 0 obj /Lang (EN-US) /S /P /Lang (EN-US) << /S /P /K 762 << /K 1185 >> /Pg 23 0 R /Pg 25 0 R % << << /S /Artifact << /S /P /Pg 23 0 R /Pg 19 0 R endobj /Lang (EN-US) 1422 0 obj >> << /Lang (EN-US) 2095 0 obj /S /P /Pg 25 0 R endobj /P 6423 0 R /Lang (EN-US) /P 10 0 R endobj << 267 0 R 268 0 R 269 0 R 270 0 R 271 0 R 272 0 R 273 0 R 274 0 R 275 0 R 276 0 R 337 0 obj /Pg 22 0 R /P 6711 0 R /Pg 24 0 R /P 4951 0 R /Pg 24 0 R >> null 3808 0 R null 3809 0 R null null null 3810 0 R null null /Fund#20Manager (22) 664 0 obj /S /Artifact >> << /S /P /S /P /Lang (EN-US) /S /P endobj /K 607 /K 661 3543 0 obj /S /P /P 6596 0 R >> /Lang (EN-US) 2395 0 obj /S /P 179 0 obj >> /S /Link 3069 0 obj << /P 6620 0 R endobj endobj 2737 0 obj << >> >> << /S /P /K 1453 endobj /Pg 23 0 R >> endobj 2866 0 obj /Lang (EN-US) >> /S /P /P 6234 0 R endobj 3458 0 obj 2075 0 obj /K 693 /S /Artifact << << /Pg 22 0 R << /S /P endobj 2257 0 obj endobj /K 1510 /K 241 << /Lang (EN-US) /S /P endobj >> << /K 1264 /Resources 4350 0 R /S /Artifact /K 1511 << endobj /Pg 18 0 R 553 0 obj /K 1436 /Pg 23 0 R << /Pg 23 0 R /Pg 23 0 R /Lang (EN-US) 2127 0 obj /Pg 25 0 R endobj /K 198 /S /P >> /Pg 22 0 R << /S /P /S /Artifact endobj /Lang (EN-US) /Lang (EN-US) 742 0 obj >> /Pg 25 0 R /P 10 0 R 3164 0 obj /Pg 23 0 R /Pg 18 0 R /P 10 0 R /S /Artifact /S /Artifact >> 1489 0 obj << /Pg 22 0 R 4253 0 obj << << endobj 59 0 obj 2648 0 obj 3849 0 obj 360 0 obj << /S /P >> /S /Artifact /Pg 23 0 R /S /Artifact >> /P 5054 0 R /Lang (EN-US) /S /P endobj endobj /K 605 /K 7 /Lang (EN-US) /K 1195 << /Pg 22 0 R /K 142 >> endobj 4212 0 obj /Pg 23 0 R << /P 5021 0 R 3141 0 obj /Lang (EN-US) /K 1247 >> /Artifact /P endobj /Pg 25 0 R /Lang (EN-US) /S /Artifact 1660 0 obj 3060 0 obj << >> /S /P /Lang (EN-US) endobj /K 1126 >> /Pg 23 0 R 3436 0 obj endobj /K 1537 /S /P >> << >> << endobj >> endobj /P 5511 0 R 2892 0 obj /S /P /P 10 0 R /Lang (EN-US) /S /Artifact /Pg 23 0 R /P 5767 0 R endobj << << /Lang (EN-US) /S /P endobj /Pg 24 0 R /K 1435 << /S /P /P 6488 0 R /Pg 22 0 R 2655 0 obj /K 1097 /K 1478 /S /Artifact /S /P /S /Artifact 55 0 obj >> >> >> /S /P /S /P /Lang (EN-US) /K 951 /Pg 23 0 R 1580 0 obj >> /P 10 0 R 4068 0 obj endobj /Lang (EN-US) >> /P 10 0 R /Pg 23 0 R << 100 0 obj /Pg 25 0 R /P 6312 0 R >> 20 0 obj /K 1153 /K 850 /Lang (EN-US) >> endobj << >> 3613 0 obj endobj endobj 1 0 obj endobj >> /Pg 22 0 R /K 1507 /K [9 446 0 R 48] 1982 0 obj /S /P /Pg 23 0 R endobj /Lang (EN-US) 1178 0 R 1179 0 R 1180 0 R 1181 0 R 1182 0 R 1183 0 R 1184 0 R 1185 0 R 1186 0 R 1187 0 R /S /P /K 68 /S /Artifact /S /Artifact endobj /Pg 24 0 R /P 4818 0 R /Lang (EN-US) endobj endobj endobj /K 467 /P 5665 0 R 3128 0 obj endobj >> /P 5385 0 R /Pg 24 0 R endobj endobj endobj /Pg 25 0 R 4307 0 obj /K 1509 /Pg 23 0 R /K 1408 /S /Artifact CLIFFWATER DIRECT LENDING INDEX (CDLI) CLIFFWATER BDC INDEX (CWBDC) Stay in the know. /Pg 24 0 R /P 6153 0 R << /S /P << << 2329 0 obj /P 10 0 R endobj /K 72 << /K 1091 << << /K 207 1728 0 obj << << /Pg 22 0 R /K 252 /K 576 << /Lang (EN-US) /S /P >> << /Kids [13 0 R 14 0 R 15 0 R 16 0 R 17 0 R] /Pg 24 0 R /Lang (EN-US) << /K 1279 endobj /S /P /Lang (EN-US) 1977 0 obj /Lang (EN-US) /Pg 23 0 R /S /P endobj /K 1117 endobj 492 0 obj << /S /Artifact /P 6686 0 R endobj 781 0 obj 393 0 obj /Lang (EN-US) /S /Artifact >> /K 1039 >> >> 3869 0 obj /P 5510 0 R /S /Artifact << /P 10 0 R /S /P << << << /Pg 18 0 R /K 857 << << 290 0 obj 2223 0 obj /S /Artifact /Lang (EN-US) 1189 0 obj 2855 0 obj /Lang (EN-US) /Pg 25 0 R >> /Pg 25 0 R >> /Lang (EN-US) /Pg 25 0 R /P 33 0 R /K 57 /K 530 /S /P 334 0 obj endobj endobj /S /Artifact << /Pg 25 0 R >> /Pg 25 0 R /K 158 endobj /Lang (EN-US) /S /Artifact >> endobj /P 4823 0 R /Lang (EN-US) >> /K 1518 /P 10 0 R /S /P /K 1330 << 1278 0 R 1279 0 R 1280 0 R 1281 0 R 1282 0 R 1283 0 R 1284 0 R 1285 0 R 1286 0 R 1287 0 R /K 1448 << >> >> >> /P 5868 0 R /K 1457 /P 5498 0 R /Pg 25 0 R 527 0 obj /K 1453 << /K 37 << 3020 0 obj << /Lang (EN-US) >> null 2930 0 R null 2931 0 R null 2932 0 R null 2933 0 R null 2934 0 R << endobj /Pg 23 0 R /Pg 22 0 R >> /K 907 >> /P 5141 0 R 3455 0 obj /Lang (EN-US) >> /S /P All of the monthly standard deviations are then annualized and the volatility is expressed as a percentage. /Lang (EN-US) /K 1128 /S /P >> endobj << /S /P >> /P 10 0 R /S /P /S /Artifact /Pg 22 0 R /K 225 >> /Pg 24 0 R /P 10 0 R /P 6231 0 R /K 1021 << /Pg 15 0 R 3927 0 obj /K 1163 /S /P /S /Artifact endobj 1312 0 obj /Pg 24 0 R /K 1543 >> /S /P 264 0 obj >> /K 986 >> /Pg 25 0 R >> /Pg 24 0 R /K 1121 4524 0 R] << /K 329 << << /K 1143 /Pg 25 0 R 760 0 obj 2712 0 obj >> << /Lang (EN-US) /Pg 25 0 R /S /Artifact 700 0 obj /Pg 25 0 R << null 1566 0 R null 1567 0 R null 1568 0 R 1569 0 R null 1570 0 R null >> /K 72 << 604 0 obj /S /Artifact /P 4435 0 R /S /Artifact >> /S /Artifact << 3796 0 obj >> /P 5954 0 R 1688 0 obj >> /K 705 3067 0 R 3068 0 R 3069 0 R 3070 0 R 3071 0 R 3072 0 R 3073 0 R 3074 0 R 3075 0 R 3076 0 R << /Pg 23 0 R >> /S /Artifact /P 10 0 R /P 6597 0 R endobj /Lang (EN-US) /K 1464 endobj /K 1542 /Pg 22 0 R endobj /Lang (EN-US) endobj /K 899 /P 6748 0 R >> /Lang (EN-US) /K 449 /S /P >> >> endobj 2392 0 obj endobj /Pg 24 0 R 3981 0 obj /S /P 1748 0 R 1749 0 R null 1750 0 R null 1751 0 R null 1752 0 R null 1753 0 R /P 6572 0 R /K 1166 >> /S /P 3715 0 obj 2542 0 obj /S /Artifact /K 1299 << << /P 10 0 R /S /P /S /Artifact /Lang (EN-US) /P 6022 0 R 2518 0 obj /Lang (EN-US) << /P 10 0 R /Pg 24 0 R /S /P /K 181 endobj >> << endobj /S /Artifact >> endobj endobj endobj /Pg 25 0 R endobj /Pg 23 0 R /S /P 2549 0 obj /Lang (EN-US) /K 1529 /Lang (EN-US) /S /Artifact /P 6136 0 R r bcErZ%+GXiC 5=:e5}cK << /Pg 24 0 R 594 0 obj << 3296 0 obj 980 0 obj /Pg 18 0 R /A 4673 0 R << << << >> endobj /K 241 >> endobj endobj endobj /K 63 /P 5092 0 R /K 658 /Pg 24 0 R /S /Artifact /S /P /S /P /S /Artifact << /Pg 13 0 R /Pg 22 0 R /Lang (EN-US) 376 0 obj /Pg 23 0 R 548 0 R 549 0 R 550 0 R 551 0 R 552 0 R 553 0 R 554 0 R 555 0 R 556 0 R 557 0 R /S /P >> << >> 4255 0 obj endobj endobj /K 24 /S /P /K 1454 3071 0 obj /P 5509 0 R >> << /Lang (EN-US) >> 193 0 obj /K 142 << << << << << /S /P /S /Artifact << /K 1220 >> endobj 3884 0 obj endobj /P 6540 0 R << 865 0 obj /K 1384 /Pg 24 0 R /Pg 25 0 R /S /P 4149 0 obj 2629 0 obj 3895 0 obj endobj /P 6486 0 R << endobj /K 1140 >> /K 1010 << << 3717 0 obj /S /Artifact /P 6407 0 R >> endobj /Lang (EN-US) /K 877 2312 0 obj /Pg 23 0 R /Lang (EN-US) /Pg 24 0 R /K 1243 1110 0 obj << >> /Pg 22 0 R /S /Artifact endobj /Pg 18 0 R >> << >> 138 0 obj << /S /Artifact endobj << /Lang (EN-US) >> /P 6332 0 R /K 1523 /Lang (EN-US) >> >> /Pg 22 0 R << /K 1368 /S /Artifact /Lang (EN-US) >> << /P 5573 0 R >> << This index captures both mark-to-market volatility (based on quarterly loan valuation changes) as well 4222 0 obj 2341 0 obj /Lang (EN-US) /Pg 25 0 R 1128 0 R 1129 0 R 1130 0 R 1131 0 R 1132 0 R 1133 0 R 1134 0 R 1135 0 R 1136 0 R 1137 0 R endobj >> << /Lang (EN-US) endobj << /K 624 /P 6213 0 R /K 1512 3421 0 R null null null 3422 0 R null 3423 0 R null 3424 0 R null