The Tactical Allocation Strategies are derived from our internal process used to guide investment strategy and asset allocation decisions. Using a hybrid approach combining quantitative tools with a qualitative overlay, investments are made in ETFs or equities to gain exposure to economic sectors or industries, countries, fundamental and/or style factors with either a US or Global focus . These decisions are dependent on the outputs of our quantitative models designed to forecast relative performance, as well as our overall market view. A key element of the risk management for this strategy is FIS Group's proprietary Market Risk Indicator that dictates defensive positioning based on a measure of aggregate market risk characterizing "risk on" and "risk off" market environments. The combination of forecasts, qualitative overlay and risk management are designed to provide outperformance vs the relevant benchmark over time.