We offer an outstanding history of innovation in the area of alternative strategies. In the 1970s, for example, we were one of the earliest adapters of private real estate investments. In the 1990s, we launched one of the first commingled vehicles to offer investors access to private real estate portfolios. And in 2006 we continued this tradition of identifying alternative opportunities when we launched our emerging life sciences strategy. Bailard offers four distinctive alternative strategies: Private Real Estate, Long/Short REITs, Long/Short Equity Strategies and Emerging Life Sciences.