amendment to investment guidelines for parametric. >> i will ask anna to come up for questions. this is a request for a minor modification in the investment guidelines. prepare a metric to reduce the duration. do you want to make a comment or two about the rationale for the recommendation? >> in february this year, the board approved recommendation for parametrics associates to manage cash overlay. they are doing it using liquid futures and equities. the benchmarks that was recommended is 68% msci and 32% now it is bloomberg us universal which used to be the benchmark but now this long-term fixed income benchmark is two-thirds bloom bird barklays, u aggregate, one-third aggregate and two-thirds u.s. intermediate treasuries. the recommendation is toual line the benchmark for the cash overlay with the long-term bench mark for the fixed income which will bring the duration down from 5.8 years to 4.5 years. >> it is slightly reducing sensitivity to interest rate risk, but it aligns how we are managing the credit strategy with the parametric guidelines. >> it is a fixed income change