3
Shared Docs
0
Same-Page
3 / 3
Mentions
Investment Strategy
at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
. That should be the edge you have at looking across the range of asset classes compared to single asset class investors. We would like to thank our BofAML colleagues who have supported our product this year by providing many such ideas and trust they will continue to do so through 2017. Bankof America
Page: HOUSE_OVERSIGHT_014434 →at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
ound 3% in 2017 and 3.5% in 2018. That in turn would mean a more aggressive Fed and in all likelihood a bigger rise in yields and the USD. Chart 15: BofAML sees GDP accelerating into 2018... Chart 16: ...with inflation picking up too m Global GDP growth % m DM GDP growth % m EM GDP growth % m Global CPI
Page: HOUSE_OVERSIGHT_014466 →Quantitative Analysis
ervices 1,720 Tax credit for orphan drug research Health 100 Exclusion & deferral of policyholder income e
the corporate tax rate 4 Repatriation 6 Border adjustment tax analysis 12 Closing loopholes 15 No interest tax shield 7 Tax reform screens 19 Related BofAML research on US tax reform 22 Methodology 24 2 Equity Strategy Focus Point | 29 January 2017 (pertain HOUSE_OVERSIGHT_023070 --- PAGE BREAK --- The
Page: HOUSE_OVERSIGHT_023070 →Entities connected to both BofAML and HealthCap

Donald Trump
PERSON
Bank of America
ORGANIZATION
Michael Bloomberg
PERSON
Merrill Lynch
ORGANIZATION
United Kingdom
LOCATION
Merrill Lynch Global Wealth Management
ORGANIZATIONMerchant Bank
ORGANIZATION
Frankfurt
LOCATION
Bank of America Corporation
ORGANIZATIONThe Financial Service Board
ORGANIZATION
Seoul
LOCATION
Marc Rich
PERSONthe Securities and Futures Bureau
ORGANIZATIONBaFin
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATION
BofA Merrill Lynch
ORGANIZATION
United States
LOCATIONthe Financial Supervisory Service
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONMerrill Lynch International
ORGANIZATION