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Mentions
mended in this report and should unders iates in the ian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merri na): Lynch (Seo
3% -] 2% 74 3.1% = 2% 3.2 -0.4% 0 54% 0.9% SXDP (Health) 3.1% -0.6% 2% 86% 0.9% -/ 2% 115 24% -14 2% 4]
Investment Strategy
at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
uct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch
Page: HOUSE_OVERSIGHT_014457 →at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
uct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch
Page: HOUSE_OVERSIGHT_014496 →ncrease penetration of higher margin offerings 48 Health: Not Tremendously Prescriptive 51 Vision 2030 a s
uct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC) and the Hong K
Page: HOUSE_OVERSIGHT_016193 →Quantitative Analysis
ervices 1,720 Tax credit for orphan drug research Health 100 Exclusion & deferral of policyholder income e
uct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch
Page: HOUSE_OVERSIGHT_023094 →Entities connected to both the Australian Securities and Investments Commission and HealthCap

United Kingdom
LOCATION
Bahrain
LOCATION
Donald Trump
PERSON
Michael Bloomberg
PERSON
Bank of America
ORGANIZATIONMerchant Bank
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
Merrill Lynch
ORGANIZATION
Frankfurt
LOCATIONThe Financial Service Board
ORGANIZATION
United States
LOCATIONthe Securities and Futures Bureau
ORGANIZATIONthe Capital Market Authority
ORGANIZATION
Seoul
LOCATIONthe Central Bank of Ireland
ORGANIZATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATION
Bank of America Corporation
ORGANIZATIONDSP Merrill Lynch Limited
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATION