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JANA’s quarterly asset allocation meeting is one of the most powerful forums we have as it brings together the top down macroeconomic analysis and considerations of the Capital Markets Group (CMG), with the bottom up micro and macro findings of the firm’s asset class research teams. This debate of the whole firm in one room, which draws upon the 100s of investment manager and strategist meetings that we are privileged to participate in, creates an environment that leads to insights, we believe, that are greater than the sum of the parts.