I'd also like to remind you that under regulation FD, management may only address questions of a material nature from the investment community in a public forum. So please ask all such questions during this call.Now, I will turn the call over to Peter. Peter Kraus Thanks, Andrea and thank all of you for joining us for our second quarter earnings call. As Andrea noted, I'm joined today with our new CFO, John Weisenseel to review the results with you and of course, Jim Gingrich, our CO is here as well who will join us in addressing any questions you may have at the end. So let's start today with slide three. Strong sales momentum continued in the second quarter. Gross sales of $18 billion, up slightly from the first quarter and up 34% year-on-year. As gross redemptions were down as well, net outflows were about $3 billion, our best flow quarter since the first quarter of 2008. However, after a very strong first quarter, markets were tough. And they worked against us in the second. Hit my macro-economic concerns, nearly every major global equity market fell sharply. And our investment performance suffered. Investment performance drove $9 billion of the quarter's $12 billion AUM decline, with three-quarters of the performance driven decline coming from U.S. value and growth. As a result, we finished this second quarter of AUM of $407 billion, down 3% sequentially. Average AUM was down a little over 1% at $411 billion. In slide four, we give you a little more detail on our flows by channel. Once again, retail was a standout in the quarter. Gross sales were nearly $12 billion. Gross redemptions were $2.2 billion lower, down 21% sequentially. The net flows of $3.5 billion were not only positive for a second consecutive quarter. They were $1.2 billion higher than the first quarter.