3
Shared Docs
3
Same-Page
3 / 3
Mentions
on 975 of the Dodd Frank Wall Street Reform and Consumer Protection Act. Morgan Staley produces an equity research product called a "Tactical Idea.' Views contained in a 'Tactical Idea' on a particular stock may be contrary to the recommendations a tiers expressed in research on the sane stock. This ma
meStCeS decision to buy or sell a stock should depend on inthidual circumstances (such as the iniesta% existing hddings) and either considerations. Global Stock Ratings Distribution (as cf Mach 31. 2015) For disclosure purposes only (in accordance wth NASD and NYSE requirements). we include the category heeings of Buy, Held, at
n 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Morgan Stanley produces an equity research product called a 'Tactical Idea.' Views contained in a 'Tactical Idea" on a particular stock may be contrary to the recommendations or views expressed in research on the same stock This ma
or's decision to buy or sell a stock should depend on individual circumstances (such as the investor's existing holdings) and other considerations. Global Stock Ratings Distribution (as of June 30. 2014) For disclosure purposes only (in accordance with NASD and NYSE requirements). we include the category headings of Buy. Hold.
n 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Morgan Stanley produces an equity research product called a 'Tactical Idea.' Views contained in a 'Tactical Idea" on a particular stock may be contrary to the recommendations or views expressed in research on the same stock. This m
or's decision to buy or sell a stock should depend on individual circumstances (such as the investor's existing holdings) and other considerations. Global Stock Ratings Distribution (as of June 30. 2014) For disclosure purposes only (in accordance with NASD and NYSE requirements). we include the category headings of Buy. Hold.
Entities connected to both Views and Global Stock Ratings Distribution

Bloomberg L.P.
ORGANIZATION
Hong Kong
LOCATION
United States
LOCATIONSingapore) Pte
ORGANIZATION
Frankfurt
LOCATIONCompany Data
ORGANIZATION
Reuters
ORGANIZATIONResearch Management
ORGANIZATIONMorgan Stanley & Co. LLC
ORGANIZATIONPT Morgan Stanley Asia
ORGANIZATION
Tokyo
LOCATION
Morgan Stanley
ORGANIZATIONGlobal Research Conflict Management Policy
ORGANIZATIONIndustry Views
ORGANIZATIONMorgan Stanley Smith Barney LLC Customers
ORGANIZATIONBank Morgan Stanley AG
ORGANIZATIONBank Street
ORGANIZATIONthe Monetary Authority of Singapore
ORGANIZATIONCanada Limited
ORGANIZATIONOverweight
ORGANIZATION