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Sterne Select Funds 1st
Quarter Summary and Outlook

Sterne Agee has thrived for more than 100 years. No one makes it that long on luck. We've lasted because we hire talented people. We give them the resources they need to be successful. We value the independence of both the firm and the individual, and we demand that our clients' interests come first.James S. Holbrook Jr., Chairman & CEO

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