Other than our controversial weapons restriction for some of our Luxembourg-based funds, most other exclusions within fixed income portfolios are client-directed exclusions. Screens are generally developed in conjunction with our clients and discussed at regular client review meetings. Some clients provide us with a list of issuers to be restricted from their portfolio. Other clients prefer that we screen using a third-party research provider - these screens can take several forms, including industry screens as well as positive/best in class screening based on ESG factors. Once the issuers to be screened are identified, they are captured electronically in our compliance systems and monitored daily. Once a screen is in place, we dynamically monitor and manage it. Updates to these screens are made regularly - as our clients or our research providers provide updated data. Within our Luxembourg Fund platform, we screen for controversial weapons based on research from a third-party service provider.