DWM recognizes that it has an obligation to identify, monitor, and, where appropriate, seek to mitigate or eliminate potential conflicts of interest that might interfere with performance of DWM’s fiduciary duties to Clients, including the duty to seek to achieve best execution. DWM has established restrictions, procedures, and disclosures designed to monitor, identify, and address conflicts of interest. The DWM Funds have an independent advisory committee comprised of investors or a conflicts of interest committee comprised of independent members of such Fund’s Investment Committee. In the event that DWM identifies a potential or actual conflict of interest involving a DWM Fund, DWM discloses and refers the matter to such Fund’s independent advisory committee or conflicts of interest committee, as applicable. In the event that DWM identifies a potential or actual conflict of interest involving the ACTIAM Funds, it refers the matter directly to such Client. In either case, DWM carries out the decisions of such committee or Client with respect to such matter.