IMPORTANT CONSUMER DISCLOSURE

Avenue Advisors, LLC (“Avenue”) is an SEC registered investment adviser located in San Diego, California. Avenue and its  representatives are in compliance with the current filing requirements imposed upon registered investment advisers by those states in which Avenue maintains clients. Avenue may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Avenue’s web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links.  Accordingly, the publication of Avenue’s web site on the Internet should not be construed by any consumer and/or prospective client as Avenue’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.  Any subsequent, direct communication by Avenue with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Avenue, please contact the  state securities law administrators for those states in which Avenue maintains a registration filing.  A copy of Avenue’s  current written disclosure statement discussing Avenue’s business operations, services, and fees is available from Avenue upon written request.  Avenue does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Avenue’s web site or incorporated herein, and takes no responsibility therefor.  All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.”