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Investment Strategy
at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
to retail clients (as defined in the rules of the FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of our regulation by the FCA and PRA are available from us on request;
Page: HOUSE_OVERSIGHT_014457 →at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
to retail clients (as defined in the rules of the FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of our regulation by the FCA and PRA are available from us on request;
Page: HOUSE_OVERSIGHT_014496 →ncrease penetration of higher margin offerings 48 Health: Not Tremendously Prescriptive 51 Vision 2030 a s
to retail clients (as defined in the rules of the FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to limited regulation by the FCA and PRA - details about the extent of our regulation by the FCA and PRA are available from us on request
Page: HOUSE_OVERSIGHT_016194 →Quantitative Analysis
ervices 1,720 Tax credit for orphan drug research Health 100 Exclusion & deferral of policyholder income e
to retail clients (as defined in the rules of the FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of our regulation by the FCA and PRA are available from us on request;
Page: HOUSE_OVERSIGHT_023094 →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]
efined in the rules of the by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to ed, London Branch, which is authorized by the Central Bank of Ireland and subject to e from us on request; has been considered and distributed in Japan by Merrill and distributed in Hong Kong by Merrill Lynch (Hong Kong
Page: HOUSE_OVERSIGHT_023609 →Entities connected to both the Central Bank of Ireland and HealthCap

Donald Trump
PERSON
Bank of America
ORGANIZATION
Michael Bloomberg
PERSON
Merrill Lynch
ORGANIZATION
United Kingdom
LOCATIONMerchant Bank
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONThe Financial Service Board
ORGANIZATION
Frankfurt
LOCATIONthe Securities and Futures Bureau
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATION
Seoul
LOCATION
Bank of America Corporation
ORGANIZATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATIONMerrill Lynch Argentina SA
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATIONDSP Merrill Lynch Limited
ORGANIZATION