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e fullest extent permissible by local laws and regulations, including without limitation the Code of Conduct for Persons Licensed or Registered with the Securities and Futures Commission. . India: Prepared by Deutsche Equities India Private Limited (DEIPL) having CIN: U65990MH2002PTC137431 and registered office at 14th Floor, The Ca
e of financial products and/or services, customers should carefully read the relevant disclosures, prospectuses and other documentation. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the
e fullest extent permissible by local laws and regulations, including without limitation the Code of Conduct for Persons Licensed or Registered with the Securities and Futures Commission. . India: Prepared by Deutsche Equities India Private Limited (DEIPL) having CIN: U65990MH2002PTC137431 and registered office at 14th Floor, The Ca
e of financial products and/or services, customers should carefully read the relevant disclosures, prospectuses and other documentation. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the
e fullest extent permissible by local laws and regulations, including without limitation the Code of Conduct for Persons Licensed or Registered with the Securities and Futures Commission. . India: Prepared by Deutsche Equities India Private Limited (DEIPL) having CIN:U65990MH2002PTC137431 and registered office at 14th Floor, The Cap
e of financial products and/or services, customers should carefully read the relevant disclosures, prospectuses and other documentation. "Moody's". "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the
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ls Information Technology Telecommunication Services Utilities 40% 43% 26% 47% 34% 35% 42% 25% 57% 51% 13% Source: Bloomberg, FactSet, Standard & Poor's, 1.P. Morgan Asset Management. 1. "Catastrophic loss" defined as a 70% decline from peak value with minimal recovery. This is a subjective cutoff po
Entities connected to both the Securities and Futures Commission and Standard & Poor's

Moody's
ORGANIZATION
Deutsche Bank
ORGANIZATION
JPMorgan Chase
ORGANIZATION
Malaysia
LOCATION
New Zealand
LOCATION
Bloomberg L.P.
ORGANIZATION
Frankfurt
LOCATIONNippon
ORGANIZATION
United Kingdom
LOCATION
Donald Trump
PERSON
United States
LOCATIONThe Financial Futures Association of Japan
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATIONthe Kanto Local Finance Bureau
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATIONFitch Ratings
ORGANIZATIONDeutsche Bank Securities Inc.
ORGANIZATION
George W. Bush
PERSON
Riyadh
LOCATIONJapan Investment Advisers Association
ORGANIZATION