A letter to a bank's shareholders

Dear shareholder,

We would like to take this opportunity to provide you an update of the recent trading performance of the firm.

As you may already know, the overall market conditions, both on the debt and equity side have been rather challenging of late. We take this opportunity to explain to you, our fellow shareholder, the firm’s exposure to this market environment as well as the active steps your management team is taking to ensure your investment continues to deliver the high returns you expect.

Over the past twelve months, we have taken active steps to augment shareholder returns and deliver greater returns on your invested capital. We have identified strong growth areas in the market of alternative investments (hedge funds, private equity, etc) as well as augmented our business practices and divisions with strong exposure to these.

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